Looking for no fee whatsoever IRA Archived From: Finance |
I was wondering where there are any no fee IRAs with minimums around $2000 or so. I am looking for no transfer fees; no maintainence fees of any kind.
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I don't know about transfer fees, but I opened an IRA at thinkorswim.com with only a few hundred bucks. No fees for mutual funds - maybe other things also, I use it once a year. Never paid an extra dollar.
I just opened a Vanguard Traditional IRA. I think their minimum is 3K for most funds. I think there's not a lot of fees (but I could be wrong, anyone else know better please correct me). There's a $20 annual fee per fund but will be waived if you make it an online only account (no paper statements).
IRA has no fee (to my knowledge). There are things such as contribution limit (i.e. Roth is $5000 for 2008), fines and taxes (if you do early withdrawal), etc. Fees usually for things that involve investing in companies and you get to know those companies' names such as 401k, mutual fund, stocks, etc.
TD Ameritrade has no fees on any of their products, including brokerage and IRA.
You may not like their commissions, or availability / quality of lifestyle retirement funds, but that's not what you asked in your Q.
mlkrgr said:I was wondering where there are any no fee IRAs with minimums around $2000 or so. I am looking for no transfer fees; no maintainence fees of any kind.Bank of America offers no fee CD and MMA IRAs with $2000 minimums.
I think you'll find that all of these IRAs at brokerage accounts have plenty of fees once you get started. For instance, if you want to make a stock trade, that's a fee. If you want to buy a mutual fund, well you'll have to pay that fund's annual expenses. If you buy an ETF, god help you. You'll be paying annual expense ratios PLUS a trading fee!!!!1111one.
Fees are for suckers!
Charles Schwab has $1,000 the Minimum Deposit Requirement. It is waived if you establish an incoming monthly transfer of at least $100 through direct deposit or Schwab MoneyLinkŪ
tolamapS said:TD Ameritrade has no fees on any of their products, including brokerage and IRA.
You may not like their commissions, or availability / quality of lifestyle retirement funds, but that's not what you asked in your Q.
For non-Apex Ameritrade accounts, there are some fees, transfer outs included.
If I were you, I'd wait till you have $3000 and open a Vanguard IRA account and put all of it in a life cycle fund.
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