Who is your Roth IRA through?

**maat55** · 07-02-2008, 04:32 PM

Originally posted by lillygator View Post

I am looking to open a Roth IRA, should I just go with BOA, which is who I bank with?

Who do you use and do you like they way they operate?

There are many Mutual Fund companies to choose from. I would not go through BOA. Try T. Rowe Price. You can open an asset builder with 50.00 per month or 1000. They have advisers that will help you.

T. Rowe Price Mutual Funds

**asmom** · 07-02-2008, 05:18 PM

My Roth also is with T.Rowe Price. I currently am invested in an international stock fund and not only have I been pleased with the performance but I like the ease of use of the website and the ease with which I can make purchases and changes etc. They are slightly more expensive than others so that is something to take into account, and yes if you don't have $2000 minimum investment you can start off with as little as $50 a month.

**disneysteve** · 07-03-2008, 08:30 AM

Where you open your account depends on what type of investments you intend to use. If you want mutual funds, I wouldn't go with BOA. I'd go with Vanguard, Fidelity, T. Rowe Price, etc.

If you want individual stocks, I'd go with a discount brokerage like Scottrade or Ameritrade.

If you are ultraconservative and want a CD, I'd go with whatever bank has the best rate.

You can have multiple Roth accounts as long as your total annual contribution doesn't exceed the limit ($5,000 for 2008 if you are under 50).

**fruitbowlk** · 07-03-2008, 09:02 AM

I'm also with T. Rowe Price and I'm pleased.

**lillygator** · 07-03-2008, 09:20 AM

if you have a pension plan through work can you still participate in a Roth IRA?

**Slug** · 07-03-2008, 09:52 AM

I'm recommending Ameritrade. You can invest in individual stocks, mutual funds, ETF's, CD's, municipal bonds, and corporate bonds. Where else can you get so many choices? They have easy to use search engines that help you find the best CD or bond rates over the time period you're looking for. It's been easy to use and the customer service has been top notch.

**jIM_Ohio** · 07-03-2008, 11:09 AM

I have 100k invested with T Rowe Price and would highly recomend them for new investors.

**ActYourWage** · 07-03-2008, 11:20 AM

Originally posted by jIM_Ohio View Post

I have 100k invested with T Rowe Price and would highly recomend them for new investors.

I am wanting to set up a Roth IRA for my wife apart from my Roth IRA which is with Vanguard. What can you tell me about investing with T Rowe Price that you would recomend? Thanks.

**disneysteve** · 07-03-2008, 11:29 AM

Originally posted by Slug View Post

I'm recommending Ameritrade. You can invest in individual stocks, mutual funds,

Slug, if you invest in a mutual fund with Ameritrade, you have to pay a commission each time you buy (or sell) shares. For folks who dollar cost average, investing money every paycheck or every month, those commissions are going to add up quickly It makes a lot more sense to deal with the fund company directly and trade commission free.

**Caoineag** · 07-03-2008, 11:31 AM

T Rowe Price. Nice selection, low amount required to start, great website and easy to set up.

**Slug** · 07-03-2008, 12:22 PM

Originally posted by disneysteve View Post

Slug, if you invest in a mutual fund with Ameritrade, you have to pay a commission each time you buy (or sell) shares. For folks who dollar cost average, investing money every paycheck or every month, those commissions are going to add up quickly It makes a lot more sense to deal with the fund company directly and trade commission free.

That's a fair criticism. I invest my 401k that way, but not my Roth. My wife has an account with Vanguard. Their custodial fees alone offset my trading costs. No custodial fees with Ameritrade and again the diversity of places I can put my cash is unmatched by any other recommendation I think.

**Scanner** · 07-03-2008, 01:21 PM

10 to 1 bet Bank of America only has loaded mutual funds. I would not use BoA.

**Scanner** · 07-03-2008, 01:39 PM

DisneySteve,

At Charles Schwab Brokerage, you can buy mutual funds shares in your Roth commission-free if the purchase is above $500.00.

Since I tend to throw money at my Roth in large chunks, I haven't paid a commission yet.

I may have to though, when I rebalance with my ETF's, pay that $12.95 in commission cost.

That being said, I don't mind the higher commission to have my portfolio and my day to day banking all at one place.

**glock35ipsc** · 07-03-2008, 01:45 PM

I have one with Vanguard, and one with Scottrade. I contribute the max to the Vanguard IRA, and trade within the Scottrade IRA. I haven't contributed to the Scottrade one for awhile, just grow it through trades. I like that setup.

Who is your Roth IRA through?