How to choose IRA

[Todd]

With so many IRA / Mutual Fund companies out there, how does one choose what company to go with?

I am working with my father on giving him some investing advice. He will be retiring in 3-5 years and will need to start drawing his $$$ from investments in 5-6 years or so. He is starting late, I know, but I guess better late than never. He could invest the max alowable into an IRA.

Both parents are k-8 teachers and don't have big nest eggs. But they will have state pension from teaching and SS.

Is a IRA-Roth a good option for him now? If so, any suggestions on the choice of a fund company or how to choose one?

I personally have some $$ with Fidelity. Are they good or are there better choices for my fathers planning?

 

[Spaf]

Todd,

You need to check with a Certified Financial Planner, or sorts. Your question invites an answer that should be given by a licensed professional.

We have to be a little careful on what we say, copywrite, advise, etc. Now of course we all have opinions. But we're not licensed folks!

Regards,...... ........Spaf

 

[Todd]

Thank you for your caution.
I am just looking for an opinion. I know everyone has one......
Is there a web site that compares IRAs and mutual fund companies etc..?

Any opinion would be taken as that... Opinions

Thanks,

 

[Spaf]

Well generally a Roth is tax paid, a traditional is tax deferred. Everyone and their brother seems to have IRAs. I would suggest getting information from several reputable companies, on this we can talk, a little. Call the companies first so that they have a handle about the financial position of the individual. This is most important, and where the financial advice comes in. Then they can send you some rollover and reinvestment literature with their advice and possible options. You can make some choices and call them back, to get the ball rolling.

I have had contacts with Vanguard and USAA. No endorsement is otherwise implied.

Probably some of the other members know of other reputable companies you can contact, name only.

I think it's a poor choice to go with funds having loads, commissions or high expense ratios.

Please be extremely careful on what is said on any www site, and don't give out any confidential information, unless you confirm who you are talking to, and that it is secure.

Rgds..............Spaf

 

[divgolfish]

Does any one have info on a index fund that is like the G fund if I do transfer some of my money inot an IRA . I am retired and was thinking of putting 50 % into an IRA like TD Americatrade or Scott.