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Where should I start a Roth IRA and investing? Ideally it would be the same place, but here's why I ask:
I want to open a Roth IRA with as little as possible, just so I can start and my 5 year clock will start ticking. I'm not worried about what it does because I have a Roth 401(k) through work that provides me with plenty of investing options and when I leave, I will simply roll it over into my Roth IRA and it will be like that portion of my Roth IRA was started in 2009. (Is there a problem with starting a Roth IRA at one bank, then in 2 years starting another one at another bank and transferring my $10 in? That will still count as starting in 2009, correct?)
For investing, I am planning on investing about $200 or $300 each month, likely in index funds, and want a place where I can do that while having several funds to choose from.
For the Roth IRA, I will probably just got with Vanguard because everyone else has fees for transferring out that I don't want to deal with and in the end, I will be with Vanguard anyway. For investing, I just want to do index funds, somewhere where they are low fees and plenty of options, even when starting at a low balance. I'm leaning towards Schwab because they look like they have a lot of options.
If you have any suggestions or advice, please let me know!
©2009