7 Best IRA Accounts for Beginners–Traditional, Roth and Rollover IRAs⛱ Read the article:
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0:00 Where to open an IRA
1:35 How to pick an IRA account
3:41 3 types of investors
5:06 Hands-off investors
7:30 Target date retirement funds
8:22 M1 Finance
10:25 Hands-on investors
11:30 How I invest
Opening an IRA account is an important step towards saving for retirement. The best IRA accounts have low fees, a wide array of investment options and tools that make investing easy.
My analysis stems from holding accounts at each of the brokers on the list, with the exception of Ally Invest. I’ve had a Rollover IRA, Roth IRA, Traditional IRA, SEP IRA or an Inherited IRA at Wealthfront, Vanguard, Fidelity and Merrill Edge. I’ve held taxable accounts at Betterment and M1 Finance.
Beyond my own experience, I focus on fees and functionality. Fees are always critical, and how each broker works is important. You want to match your own personal approach to investing with the right IRA account. I also considered each broker’s website and mobile app, as well as their investing tools.
#ira #rothira #m1finance
ABOUT ME
While still working as a trial attorney in the securities field, I started writing about personal finance and investing In 2007. In 2013 I started the Doughroller Money Podcast, which has been downloaded millions of times. Today I’m the Deputy Editor of Forbes Advisor, managing a growing team of editors and writers that produce content to help readers make the most of their money.
I’m also the author of Retire Before Mom and Dad–The Simple Numbers Behind a Lifetime of Financial Freedom (
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DISCLAIMER: I am not a financial adviser. These videos are for educational purposes only. Investing of any kind involves risk. Your investment and other financial decisions are solely your responsibility. It is imperative that you conduct your own research and seek professional advice as necessary. I am merely sharing my opinions.
AFFILIATE DISCLOSURE: Some of the links on this channel are affiliate links, meaning at no cost to you I earn a commission if you click through and make a purchase and/or subscribe. However, I only recommend products or services that (1) I believe in and (2) would recommend to my own mom….(read more)
LEARN MORE ABOUT: IRA Accounts
INVESTING IN A GOLD IRA: Gold IRA Account
INVESTING IN A SILVER IRA: Silver IRA Account
REVEALED: Best Gold Backed IRA
7 Best IRA Accounts article: https://robberger.com/ira-accounts/?utm_source=YouTube&utm_medium=comment&utm_campaign=best_ira_accounts
I don't like the word folks. Politicians ruined the word.
I’m wondering why you love m1 finance…..
M1 finance doesn’t have a limit order function. It triggers at market prices.
Can you do a video on 100 Guarantee IRA what are the benefits
Is m1 finance's problem that you can't invest in mutual funds? Is that why people say bad things about it online?
Hi Rob,
Thank you for this information. Any feedback on Charles Schwab… Traditional IRA products?
you did not mention Fidelity. I think Fidelity is the best.
Im a hands off investor. I recently retired. I am thinking to rollover my 401k savings into IRA CD. I just want to earn interest. Is this a good idea..anyone please help?
No. I think people are intimidated because they are concerned about surrender fees and tax liabilities.
Well explained, I can watch this all day, I must say having multiple sources of income is the best peace of mind anyone can get, it is a way of life that makes you never stranded financially. I have a well paying job and I also decided to go into investment in stock trading. During covid, I stayed home without work but luckily for me I had my investment to fall back to, thanks to my stock broker Suzanne Stephens Ellis, I do not have to do anything, and I get my returns in due time. Get her valid information and contact online by simply searching her name online.
My humble opinion. Make sure the brokerage account is with a company that has been around for a long time, like 40+ years. Try to open with a brokerage house headquartered away from NYC. Have IRA account away from your workplace and max it out. Then open taxable brokerage account. Try to stay away for your workplace 401k. Their matches are not worth it.
I'm glad I put 5% in TSLA 6 months ago.
As an individual stock investor M1 Finance is useless. I could never figure how to stop investing in a company and only holding my position. At least it was very hard to do this as the percentages had to be calculated manually every time money was added. It's only great if you are allocating everything by percentages.
I love your vids Rob, thanks. Question: you said if you started over, you'd use M1. Can't you transfer your Vanguard accounts to M1, though?
Which is the least likely to go under if we have a new monetary crisis or depression?
I’m 29 years old and I don’t have a 401 or 403k account. I do have a savings account, but I want a ROTH IRA…. Help, please.
Hi Rob, learning to manage my hard earned money and like your channel and the content. I have a question I have a Roth in Troweprice good returns but I am thinking of switching to vanguard. This is because of the expense ratio. Please give me your two cents and do you have a video of the pros and cons?. Thanks!!
Your camera is SOOO nice !!!
Dear Rob, I was wondering if you had a video discussing the pros and cons of Roth 401k vs Roth – how maybe you may or may not choose roth if you have high tax burden because of income and lack of deductions or if single. I looked around and did not find anything specific.. Thanks for all the good info.
How about Charles Schwab account?
What do you think about SoFi for an IRA? Seems pretty competitive with no fees. Thank you for the good information.
Hi Rob, Can you explain the difference between traditional IRAs and Rollover IRAs? I tried to roll over my 401K but not sure of the difference between these two. Thank you in advance.
Is m1 finance trustworthy? I don't know much about there company.
Hmmmm… but how do you feel about M1 finance?
My wife was let go from her job, they told her she had to roll over her 401k to her own IRA. Thanks for video this helped. Any other advice to know?