Question

I feel like I've seen this question on here but can't find any threads when I search for it. anyway, unfortunately I'm a bit late to the game in starting a Roth IRA (31 years old, wish I had started years ago! ), but plan to open one soon and make my first deposit. So, I have options. My checking account is with Schwab now (love it, by the way) and I'm wondering whether I should just open the Roth IRA with Schwab as well. Any recommendations on platforms to use for the Roth IRA? Experience with Schwab or others? Thank you!  

Answer 1

I recently moved my Roth IRA to vanguard. I put it all in the mutual fund VFIFX (target retirement fund 2050). It seemed like the easiest way for me to go with the lowest fees

Answer 2

I use fidelity, but that’s because I have all of my investment accounts with them.  

Answer 3

Schwab is fine. Can do a lot worse, not much better to be honest. Now my opinion might change if you’re looking at a taxable account, or looking to trade a lot. But for a set and forget, target date (or fixed %) index fund approach, Schwab is fine.  

Answer 4

I use Schwab for checking, rollover, and 401k and no issues. Set up 401k for LLC, and customer service helped significantly. If I had one recommendation is use phone customer service, as they can guide you much easier. If you have a Schwab office near you and can get to it during business hours, that is also an option. But I have done everything by phone and had no issues.  

Answer 5

Love my Roth IRA with Schwab. Have had it for over two years now and never had an issue

Answer 6

Thanks, everyone for the input. I think at this point my first goal is to open an account and take a target date set and forget approach. For simplicity, going with Schwab sounds like it makes sense, and there's a branch nearby. Re: fees, looks like generally you're looking at . 15% to closer to 1%. my inclination is to just go for the lowest, but @capri, it sounds like you prioritize simplicity over a few tenths of a per cent?  

Comments

Thanks, @toniatonic. I'm not sure yet exactly what Schwab's fee would be, it looked like their highest end fees are 1%, but not sure what for. Also looks like it could be much lower than that. Will report back here for the LMM community!  

Answer 7

My roth is with fidelity. Schwab would be just as good, I expect