Roth IRA

[Gatores]

Just wondering if anyone has any tips on getting one started. I just dont really know where to start or who to trust. I know you can do it online, but is that a good option or do I go to a brokerage firm? Any insight or advise would be appreciated.

Thanks

[PerchJerker]

You don't get my point......You are correct in that the pre-tax dollars will get you a bigger gross number over time given the same investment performance.......However you are comparing two completely different "numbers".

[PerchJerker]

I guess I have figured I want a Roth I was more looking for ideas on where to go to get it started. Like do I go to the local Edward Jones or has anyone started one online like through a Ameritrade or Fidelty type sites.

My apologies for getting off on a tangent and not answering your original question.

I think the broker or advisor or financial manager you work with is more important than the firm they work for. This is the person that will be giving you advice and managing your money, so it is important that you have a level of understanding and trust with that person.

So, how do you find a good advisor? I think personal references are the best - do your folks or relatives work with anyone they would recommend? How about friends or coworkers? Do you have a banking relationship now, they would recommend someone to you?

This should just be a starting point for finding an advisor. After that you need to talk to them, to hear and understand their advice for you and your money. And you should question them on their investing strategies and their performance ---- a good track record is key as far as I'm concerned. After that, it comes down to whose advice you trust the most and who you want to put in charge of managing your money.

Personally, I prefer to pay a management fee that is a % of my assets, not a per-transaction fee. And for retirement savings, my philosophy is that I don't want "a lot" (subjective term) of trading - I want periodic rebalancing and trades when it's prudent, but I don't want a lot of trading trying to time the market or get in and out quickly, etc. Those are my philosophies given my age and the amount of assets I have, other people will have different philosophies for their money.

Good luck. A lot of what you hear might seem confusing, but the bottom line is you're starting at the best time - now.