Ira difference (brokerage, mutual funds, custodian, fee)

[Z68359]

In 32 and want to start investing in a ira.
Need help. Whats better roth or treditional
whats a good bank? I like fidelity. Do thehy pick your stocks or different plans. I know nothing about this

[txgolfer130]

Originally Posted by Z68359

In 32 and want to start investing in a ira.
Need help. Whats better roth or treditional
whats a good bank? I like fidelity. Do thehy pick your stocks or different plans. I know nothing about this

I know it's going to suck, but here's your answer:

Depends.

1) What's your overall situation like.

2) What is your investment goal

3) What is your current investment situation.

4) What tax bracket and/or other tax exempt vehicles do you have.

5) Do you want investment advice or just investment platform/opportunity?

6) Are you fee averse or do you recognize you may have to pay for advice?

7) Do you want a bank or a brokerage

8) Again, even with all the answers above...depends.


Good luck.

[reed303]

This Fidelity webpage may help you understand the differences between a Roth and a Traditional IRA. One major difference is whether you pay taxes on your contributions now, or later.

https://www.fidelity.com/retirement-ira/ira-comparison

Personally, at age 74, knowing what I know now, I would have gone with Roths, if only to avoid the impact age 70 RMDs have on retiree income taxes.

Fidelity is a good IRA custodian. You can pick your own stocks or mutual funds etc, or they can suggest various investments for you.