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Best company for my first IRA?

I’m looking to start an IRA, investment retirement account, and I’d like a recommendation on the best company for this type of financial service. There are so many companies out there - is T Rowe Price any good? I’ve seen their ads, they sound ok. What about Charles Schwab? Also my friend’s dad has been a financial consultant for years, but I think an online brokerage would probably serve me better.

Any advice on this greatly appreciated, I’ve read about so many corporate scandal’s over the years, I’m a bit nervous about putting my money with somebody else. Thanks.

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Answer #1

Any of these companies you have mentioned are fine to start your first IRA with. Remember to do more research on the types of IRA’s you can get, the penalties, and the benefits. Every person should have their IRA tailored to their lifestyles. An online broker will be more difficult to gain useful information from, but they will be a lot cheaper on fees. Other brokers will give you more attention when you need it, but they do charge you for it.

Decide what is most important for you service or saving money. I would strongly warn you to remember that “it takes money to make money”, and to be wary of where in your life you cut your budget.

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