I want to start a roth ira and invest in mutual funds
I read the book "The Wealthy Barber" and I want to start my ROTH IRA and put my money in mutual funds and start planning for retirment using dollar cost averaging and compound interest. I don't know what else to do and where to start. I dont understand how to start the process. I know I don't really want to pay a brokerage fee. I guess I may have to pay a mutual fund manager fee. How do i go abou this? thanks
Asked By: Madden09 - 8/12/2008
Best Answer - Chosen by Asker
You can log on to the website of E*trade, Scottrade, Fidelity, etc. and fill out a ROTH IRA application on- line...then send a check for your initial deposit...in a couple of days you will get an ID and password and you can log on to your " portfolio".... Your entire amount will be in " cash"... so, then you just go... More
Answered By: jebediabartlett - 8/12/2008
Additional Answers (2)
A Roth IRA is an excellent way to start planning for retirement. You can put your money in mutual funds and not have to worry about taxes. Mutual funds are an excellent choice because they less risky since they are diversified. They are also professionally managed so you don't have to worry that you don't have... More
Answered By: Theodore B - 8/12/2008
First of all, I'll reiterate the kudos to you for thinking about your future. It's astonishing (and very sad) how many people don't do this...until it's too late... More
Answered By: El Guapo - 8/14/2008
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