3 Factors to Deciding Where to Open a Roth IRA

When considering where to open Roth IRA accounts, there are several variables that you will want to consider. Each Roth IRA provider will give you different benefits and options. Here are a few factors to consider when deciding where to open a Roth IRA.

1. Investment Options

Many Roth IRA investors have very limited selections when it comes to investing. Some of them want you to only invest in stocks or mutual funds. However, if you want to invest in a wider array of securities, you will need to find a Roth IRA provider that can give you this choice. Some providers have many different securities to choose from.

2. Low Fees

The custodian fees that come with opening a Roth IRA can cut into your retirement funds significantly. Therefore, you need to make sure that you understand the fee structure of a broker before choosing them. Shop around between brokers and make sure you are getting the best deal on custodian fees.

3. Convenience

You also want to open a Roth IRA with a broker that is convenient for you. For example, you need to be able to easily deposit money into your account when you need to. You also need to make sure that the brokers rules about minimum deposits and investments are to your liking.