Roth IRA

United States
December 6, 2006 1:29pm CST
Where can I go to open a Roth IRA? Can I do this online or do I have to go to an actually place?? I am looking at opening a Roth IRA for my son! :) Any help or suggestions would be appreciated. :)
2 people like this
5 responses
@gwenb143 (20)
• United States
5 Feb 07
Like the suggestions offered here, there a lot of brokerages online. You can simply get to their websites and open your Roth IRA account yourself. You can try going to www.sharebuilder.com. I have been using them for 4 years (for IRAs and investing in stocks). They are pretty cheap. Just go to their site and there's a link to Open an account. It would prompt you what type of account,etc (screen by screen so it's really easy!). Be prepared to give personal information like SS no and other stuff. Also, instead of a Roth IRA, maybe you can open an Education Savings Account (ESA) if you want to use this for your son's education or a Custodial account for your child's general benefit. Well, hope this helps. I know you posted this 3 months ago, but if you haven't opened one yet, now's a great time before tax filing season!
• United States
5 Feb 07
Oh I forgot, let me know if you need help or have questions or have problems opening an account. I will be more than happy to assist in any way I can.
@imnutz (288)
• United States
13 Feb 07
As noted above, you can open a Roth pretty much anywhere. But, I would spend some time looking at what each company has to offer. Each company will charge different fee structures. Some charge a % of your investments, some charge a fixed annual fee, still others charge a combination, and so on. Also, what kind of service do you get for your fees? Do you get someone local you can go talk to or is it a 1-800 number to who knows where? There is a lot to be said about having someone local you can talk to. I recommend the larger brokerage houses such as Merrill (if you have quite a bit of money they are great, but not so good for the average joe) or Edward Jones (great for the average joe, not so great for the rich).
@claudia413 (4284)
• United States
4 Feb 07
I work for a financial planner and he opened a Roth IRA for me several years ago. Just look in your local yellow pages under "financial planners", "investments", or "stock brokers" and find someone who's been around for a while. Be sure to only deal with someone who gets a commission from the company they place you with, and not someone who charges you for his services by the hour. If you have any further questions, send me a PM.
@manmaxman (850)
• India
4 Feb 07
i think u have to go to actuall place to open a roth IRA
@msqtech (15226)
• United States
6 Dec 06
any brokerage or bank should be able to help you I like credit union myself