Author Topic: Help with online Traditional IRA account  (Read 2282 times)

Offline kishke

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Help with online Traditional IRA account
« on: March 05, 2021, 04:20:35 PM »
I need to open a traditional IRA account ( cuz of tax purposes)
Anyone has any experience, where to start, what to look for?
Online? In person
My husband n me are both in our mid 50

Offline incendia

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Re: Help with online Traditional IRA account
« Reply #1 on: March 06, 2021, 07:49:23 PM »
You can open an IRA at Schwab Etrade Fideilty etc or any pretty much any bank

Offline ushdadude

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Re: Help with online Traditional IRA account
« Reply #2 on: March 06, 2021, 08:01:54 PM »
You can open an IRA at Schwab Etrade Fideilty etc or any pretty much any bank
Vanguard is popular too
Trolls will always post stupid replies

Offline ushdadude

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Re: Help with online Traditional IRA account
« Reply #3 on: March 06, 2021, 08:02:42 PM »
Parenthetically, I've been reading up a lot now about financial Independence. The common theme in almost everything I read is to start as early as you can.
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Offline Mordyk

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Re: Help with online Traditional IRA account
« Reply #4 on: March 06, 2021, 08:17:30 PM »
Parenthetically, I've been reading up a lot now about financial Independence. The common theme in almost everything I read is to start as early as you can.

We need to say this with a loud speaker in our communities. 

Offline ushdadude

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Re: Help with online Traditional IRA account
« Reply #5 on: March 06, 2021, 08:28:23 PM »
I need to open a traditional IRA account ( cuz of tax purposes)
Anyone has any experience, where to start, what to look for?
Online? In person
My husband n me are both in our mid 50


Also, if you don't have any other IRAs you should look into doing a back door Roth IRA
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Offline justaregularguy

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Re: Help with online Traditional IRA account
« Reply #6 on: March 06, 2021, 08:30:06 PM »
Iím young.
Whatís an IRA?
nothings impossible- the word itself says Im possible

Offline sguitarist18

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Re: Help with online Traditional IRA account
« Reply #7 on: March 06, 2021, 08:31:19 PM »
Individual Retirement Account.

Offline justaregularguy

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Re: Help with online Traditional IRA account
« Reply #8 on: March 06, 2021, 08:33:35 PM »
Whatís different than investing in stocks, ETF, or with any broker ?
nothings impossible- the word itself says Im possible

Offline zh cohen

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Re: Help with online Traditional IRA account
« Reply #9 on: March 06, 2021, 08:44:55 PM »
Whatís different than investing in stocks, ETF, or with any broker ?

You use the money in the IRA to invest, but you don't have to pay taxes on the money you make until you take it out (or ever if it's a Roth IRA)

Offline kishke

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Re: Help with online Traditional IRA account
« Reply #10 on: March 06, 2021, 08:57:10 PM »
Is there a difference with which online place u open it with? 

Offline Mordyk

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Re: Help with online Traditional IRA account
« Reply #11 on: March 06, 2021, 08:57:45 PM »
Iím young.
Whatís an IRA?
That's awesome.   Google it. Go on YouTube.     Young is the best thing working for you when you talk about retirement accounts!

Offline Essen est zich

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Re: Help with online Traditional IRA account
« Reply #12 on: March 06, 2021, 08:58:27 PM »
Whats the advantage of backdoor as opposed to standard ira?

Offline ushdadude

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Re: Help with online Traditional IRA account
« Reply #13 on: March 06, 2021, 09:12:55 PM »
Is there a difference with which online place u open it with?


Subtleties. Probably won't matter initially but if you discover something at one that you like better you can always move your assets over
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Offline ushdadude

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Re: Help with online Traditional IRA account
« Reply #14 on: March 06, 2021, 09:13:33 PM »
Whats the advantage of backdoor as opposed to standard ira?

 A back door Roth IRA is a way to put money into a Roth when you don't usually qualify. So you do pay tax on the money but when you withdraw you don't have to pay tax
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