Where To Open A Roth IRA (3 Best Places For Roth IRAs For New Investors)

by | Aug 21, 2022 | Roth IRA | 12 comments

Where To Open A Roth IRA (3 Best Places For Roth IRAs For New Investors)




Opening a Roth IRA will make you a tax-free millionaire for just a couple hundred dollars a month. Roth IRAs are incredible easy to open and offer powerful benefits to investors.
But I get asked often where is the best place to open one? I’m covering three of my favorite options for option a Roth IRA in this video.

Not sure what a Roth IRA is or why to use it? Watch this video:

Three Best Place To Open A Roth IRA:

Vanguard:

Vanguard Roth IRA Pros:
– Very reputable financial company
– Amazing low fee funds
– High performing investment options
– Lots of educational resources
– Owned by the investors

Vanguard Roth IRA Cons:
– Funds do have fees even though they are very low
– Some funds have higher minimums to purchase ($1,000-$3,000+)
– UX (user experience) is dated and can be hard to figure out
– Can’t buy fractional shares of stocks or ETFs in Roth IRAs

Fidelity:

Fidelity Roth IRA Pros:
– Reputable company with good history
– Platform is easier to use and better designed than Vanguard
– Cheaper fees and lower minimums on many funds
– Offers zero fee mutual fund options
– Lots of educational resources to learn
– Allows you to purchase fractional shares
– Options for self-directed/DIY or advisor helps

Fidelity Roth IRA Cons:
– Fees for advisor help are higher

M1 Finance:

M1 Finance Roth IRA Pros:
– Amazing robo-advisor technology
– Easy to use and beautiful platform on web and app
– No fees for investing
– Easy rollovers (with bonuses for switching too)
– Ability to purchase fractional shares

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M1 Finance Roth IRA Cons:
– Company is newer and was just founded in 2016
– There is a $500 minimum to start

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**The information provided should not be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. Investing entails risk, including the possible loss of principal, and there is no assurance that the investment will provide positive performance over any period of time. I am not a professional and this channel is for entertainment purposes only. Do your own research!!

*Affiliate links. I get commissions for purchases you make through links shown here. It doesn’t affect your purchase in any way and the commissions help support this channel. I only recommend items I personally use and appreciate the opportunity to share….(read more)


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12 Comments

  1. Jessics682

    You are the reason I started a M1 and Roth account 2-3 years ago. I haven't put as much as I should into it but every little bit helps.

  2. Bell

    timing is crazy, I never knew what a roth ira was until today… ah… barely considering saving money now

  3. Needing Less

    When I was in my early 20's, my grandmother had me open a Vanguard account, and I've been a client ever since! Their low expense ratios can't be beat!

  4. NoParking121

    One thing that should be mentioned is the closing fees. Unlike a normal brokerage account where closing an account is usually free, IRA's are usually $75 -100 to close. Even the ones you mention have closing fees, so it sort of important who you go with as its expensive to switch.

  5. Mommy Trader

    We love Fidelity! ❤️

  6. Mr. Berry

    Nice video! I really like Fidelity, Schwab, and M1 Finance for retirement investing. All easy to get started and low cost index mutual funds or ETFs.

  7. cnell3

    Can you talk about Backdoor IRAs for those who may not qualify for a Roth?

  8. Inea - FI Journey

    For me Fidelity is the winner. Ive had them since 2019, was my first ever investing experience. Love it! Had never had trouble with it and I mostly own the Fidelity Zero funds! But all three are definitely great options!

  9. OnTheBooks_Budgeter

    Thank you thank you thank you!! For this video!(:

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