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Question about picking a broker for my first Roth IRA
I was stuck between two online brokers for opening a Roth IRA last week. One had a lot of ads for free trades, but the other had a better tool for picking index funds. I went with the second one and put in my first $500. Setting it up was easy, and I already bought a share of a total market fund. Has anyone else started with a small amount and been happy with their choice?
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kim.stella14d ago
Honestly that "first $500" part is so real. Tbh my friend got super into picking the "perfect" fund and just let her cash sit in the account for like six months. Ngl I had to tell her just buying something, anything, was better than waiting for the best thing. She finally put it in a target date fund and felt way better.
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anthony_wells14d agoMost Upvoted
Yeah the "just buying something" advice is key. I mean, the perfect fund doesn't exist, and waiting is just losing time. Getting started with a simple choice fixes the real problem, which is getting stuck.
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nathan_moore1212d ago
That "just buying something" advice can backfire though. Picking the wrong fund with high fees will cost you way more over time than waiting a few weeks to research. Rushing into a bad choice isn't better than a careful start.
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