When it comes to saving money for retirement, the process can feel both overwhelming and confusing. But it doesn’t have to.
Saving for retirement can be easy and effortless – but you’ll need the right IRA account firm to accomplish this. With a great account firm on your side, you can grow your savings and enjoy a financially secure future.
The first step in choosing an IRA account firm is figuring out which type of IRA is the right option for you. You can choose to save in a Roth IRA, which lets your money grow tax-free and ensures you won’t be taxed when you withdraw money during your retirement. Or, you can put your money in a traditional IRA, which also helps you save without taxes, but which will be taxed when you access your money years later.
Can’t decide which is best for you? That’s where an IRA account firm can help. If you need guidance in managing your retirement savings, you need to consider enlisting the help of one of the following top IRA account firms. These 5 are some of the best to turn to today.
1. TD Ameritrade
TD Ameritrade offers high-quality financial services, including great IRA advice and investing guidance. With no minimum investment and a host of excellent, beneficial features designed to guide you along the path of building your retirement portfolio, this is one firm everyone should consider.
Pros
- Big selection of different investment options.
- Free research provided before you make financial decisions.
- No account minimum to invest.
- Choice of 4 trading platforms.
- Quality customer support.
Cons
- Higher-than-average trade commission.
- High costs ($6.95 trade fee) on broker-assisted trades.
- High fees for short-term ETF trading.
2. Ally
Ally is one of the best banks in operation right now – and if you’re looking to grow your IRA funds, you need to consider this top option. Very few other brokerage firms can compete with what Ally offers. You’ll enjoy minimal fees, low commissions, and limited costs as you save and invest your money.
Pros
- Charges just $4.95 for base trade commissions.
- No account minimum.
- Easy-to-use online trading platform.
- Many different research and online help tools.
- Low-cost transaction fees and funds.
- 24/7 customer support and service.
- Automated portfolio management.
Cons
- No physical branches – Ally Invest is online only.
- No $0 transaction fee mutual funds.
3. Vanguard
Vanguard is one of the best IRA investment choices. It’s touted as one of the top account firms for anyone who already has a significant amount of savings, and it’s a favorite of active traders and knowledgeable investors. However, Vanguard is also an excellent option for anyone who’s looking for a low-cost IRA investment solution to make the most of their money.
Pros
- Below-average expense ratios, benefitting investors.
- Wealth of online features, including commission-free online transactions and lower investment minimums.
- Big selection of mutual funds.
- Home to some of the lowest-cost funds available.
- Quality, responsive customer service.
Cons
- High trade commissions.
- No trading platform.
- Penalties for investors who trade 25 or more times each year.
4. E*TRADE
E*TRADE is a popular online investing platform, and the firm has built its reputation as the go-to choice for tech-savvy customers. This IRA account firm aims to help both experienced and beginner investors. With a host of educational resources, different trading platforms, and tools to balance any portfolio, you can feel comfortable putting your money with E*TRADE.
Pros
- Online platform is easy to use, along with the mobile E*TRADE app.
- Big selection of investments and funds.
- Low-cost commissions for frequent traders.
- High-quality customer service.
Cons
- High commission charges for less active traders.
- Minimum balance requirement.
5. SoFi
Want to make the most out of the money in your IRA? You need to consider SoFi as your account firm. SoFi may be a bit new to the world of retirement advising, but it’s a firm that offers low account minimums, low fees, and excellent financial advisors who can help you achieve your goals.
Pros
- Wide selection of different low-cost investment options.
- Affordable management fees.
- Automatic portfolio rebalancing.
- Can speak with certified financial planners and career counselors for free.
- Complimentary live educational events for new investors.
Cons
- Limited number of account types to choose from.
- No tax-loss harvesting.
Find the Right IRA Brokerage Firm for Your Retirement Today
Saving and investing for your retirement doesn’t have to be complicated. With the guidance and management of an IRA account firm, you can have your savings handled by experts. And they can automatically help you grow your money without headaches or worry.
Are you ready to make more out of your savings? You should search for IRA firms online. This will allow you to compare fees, commissions, and rates to determine how to make the most of your money. With your IRA in the hands of experts, you can invest wisely and have beneficial help along the way to your golden years.