Where should you open a Roth IRA? This video covers the 3 BEST Roth IRA Accounts to choose from for beginners, including everything you need to know about Roth IRA’s – Enjoy!

A recent poll on my channel showed 33% of people don’t have a Roth IRA.

Roth IRA’s could reap tremendous rewards as you plan for retirement since your entire account will be TAX FREE.

Relevant Videos:
– Fidelity Playlist To Learn More
– Fidelity Roth IRA For Beginners
– Roth IRA | How To Become A TAX FREE Millionaire
– Traditional vs Roth IRA | Which Is Better For You?
– Mutual Funds vs Index Funds vs ETFs

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⏰ Timestamps ⏰
00:00 Intro
02:09 1. Fidelity
05:23 2. Vanguard
09:22 3. Charles Schwab
11:33 Key Things To Know
13:55 Conclusion

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📝 What is a Roth IRA?
A Roth IRA is an individual retirement account that by U.S. law allows you to invest after tax money for the benefit to withdrawal at retirement (minimum 59.5) TAX FREE.

Where to open a Roth IRA?
There are 3 places I recommend to open a Roth IRA account and in this video I explain why I have narrowed it down to Fidelity Investments, Vanguard, and Charles Schwab.

Why?
Fidelity is among my favorite (not affiliated) and all three options are the largest in the industry and have been around for a long time. You can also utilize their in house index based mutual funds. These platforms are much more professional in my opinion and that is why an account like the Roth IRA to grow over the next 10,20,30+ years should go to one of these 3 places to start a Roth IRA.

I also recommend only picking one brokerage for Roth IRA’s to keep things simple.

Pros:
1. Withdrawal Tax Free
2. Time for investments to grow
3. You can withdrawal contributions any time penalty free and tax free
4. You have control on how you want to manage the account

Cons:
1. Income Limit: If you have to high of an income then you are unable to contribute to a Roth IRA.
2. Contribution Limit: How much you are able to contribute to the account every year.
3. Can’t withdrawal earnings before 59.5
4. Withdrawal earnings early and pay taxes and 10% penalty.

Why are Roth IRA’s a great approach when planning retirement?
With proper planning and discipline, a Roth IRA by the time you could retire could truly save you hundreds of thousands of dollars from paying taxes but also the benefit of holding onto investments over the long term…

WHY?
If you were to invest for 20, 30, even 40 years and hit the max contribution every year when investing in strong funds, the chances of your accounts value being high is likely. Paying taxes on a portfolio that high would come with an extremely heavy cost, but paying no taxes would save you many years of working.

Some of the links in this description are affiliate links that I get a commission from. The commission helps support my channel and I would greatly appreciate it!

Disclaimer: This content is for entertainment purposes only. The information provided in this video does not, and is not intended to, constitute legal, tax or financial advice; instead, all information, content, and materials available on this video and on this channel are for general informational purposes only. The presenter is not an attorney, accountant or financial advisor. Viewers of this video should contact their attorney, accountant or financial advisor to obtain advice with respect to any particular legal, tax or financial matter….(read more)

LEARN MORE ABOUT: IRA Accounts

CONVERT IRA TO GOLD: Gold IRA Account

CONVERT IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

Where To Open A Roth IRA | 3 BEST Roth IRA Accounts

A Roth IRA (Individual retirement account) is a powerful investment tool that offers tax advantages to individuals saving for retirement. Unlike a traditional IRA, contributions to a Roth IRA are made with after-tax dollars. This means that your withdrawals during retirement are tax-free, which can be a significant benefit when it comes to maximizing your retirement income.

When it comes to opening a Roth IRA, it is crucial to choose the right account that aligns with your financial goals and investment preferences. Here are three of the best Roth IRA accounts to consider:

1. Vanguard: Known for its low-cost index funds and excellent customer service, Vanguard is a popular choice among investors. Opening a Roth IRA with Vanguard allows you access to a wide range of investment options, including mutual funds, ETFs (Exchange-Traded Funds), and individual stocks. Vanguard also offers a helpful online platform that allows you to view and manage your investments easily. With its reputation for low expense ratios, Vanguard is an excellent option for those looking to minimize investment costs.

2. Fidelity: Fidelity is another leading investment firm renowned for its diverse selection of investment options and top-notch customer service. Opening a Roth IRA with Fidelity provides access to a range of mutual funds, ETFs, stocks, and even options trading. Fidelity offers a user-friendly online platform and mobile app, making it convenient to monitor and manage your investments. Additionally, Fidelity offers a robust research and educational resources center, empowering investors to make informed decisions.

3. Charles Schwab: Charles Schwab is a popular choice for individuals looking for a combination of low fees and a comprehensive set of investment options. With no trading fees for stocks, ETFs, and most mutual funds, Schwab offers attractive cost savings. They also have a wide range of investment options, including index funds, mutual funds, ETFs, and individual stocks. Schwab’s online platform is user-friendly and provides ample research tools and educational resources for self-directed investors.

When choosing a Roth IRA account, it is essential to consider factors such as fees, investment options, customer service, and user experience. These three providers – Vanguard, Fidelity, and Charles Schwab – are trusted names in the investment industry and offer a solid foundation for building a diversified retirement portfolio.

Before selecting an account, it may be beneficial to assess your personal requirements and investment strategy. Additionally, consulting with a financial advisor can help you make an informed decision based on your specific financial goals.

In conclusion, a Roth IRA is an excellent retirement savings vehicle, and choosing the right account is crucial. Vanguard, Fidelity, and Charles Schwab are three of the best Roth IRA accounts, offering low fees, a variety of investment options, and exceptional customer service. Carefully consider your investment goals and preferences before opening a Roth IRA to ensure a secure and prosperous retirement.