How to start your own IRA

Start a 3-step IRA.

One, choose a company you love

Second, enter information on the official website

Three, put money in it.

A person wants to have multiple IRA (or brokerage) accounts, whether it is of the same kind or of a different nature, the same company or different companies. As long as the annual deposit is not exceeded. The downside is that the account is too complicated, not easy to manage.

Which bank has the best IRA?

Opening an IRA account with the online investment broker and Robo-advisor will be better than the bank.

1. From November 2019, online investment broker has been exempt from fees, while banks are still charging fees and want to eliminate fees unless you are a premium user (account means has a lot of money).

2. An IRA is a retirement account, that is, a long-term investment that will allow the stock market to make its true strengths. Historical data show that long-term investments in the stock market are growing at a time of 10 per cent. It has been suggested that banks' IRAs will have low-risk storage products, such as CDs. A CD is a money left in the account for a while to raise interest rates, and now the best annual CD rate is 2%. The difference between the two is obvious. If you insist on making prudent investments in long-term investments, many investment dealers also have CDs, and a variety of low-risk or risk-free investments.

Is the Internet investment broker reliable?

As long as the investment dealers are members of the SIPC, and the Bank is also a member of the SIPC in terms of securities, no difference.

It is therefore acceptable for the online investment broker to choose consumer companies like the United States. Second, regardless of the size of the business, the company will buy from each other. 

Second, deciding on a good business, you can open an account.

The home page of the official website clicks to open an account (usually on the top right corner or the left half)

Which account do you choose to open?

Major brokerage and retirement division

If your main goal is to make money, there is no limit on deposits, and you are very mobile (you want to withdraw money when you want, choose brokerage account. Its downside is the high tax rate (as long as you buy and sell this year, report your income this year). If the securities are held for more than one year, the tax will be lower)

If your main goal is to prepare for retirement and save tax, choose the retirement account. Its drawback is that the maximum deposit amount is $6,000 per year in 2019, the age is greater or equal to 50 can be added to $1,000, and liquidity is low, want to maximize the benefits, wait up to 59.5 years to get the money.

Note: The deadline for STORAGE of IRAs is April 15, 2020, before you show up before tax, not December 31, 2019.

The retreat is divided into three types of March, Roth and Rollover.

The main difference between the main difference between the two and Roth is that the money Trad puts now does not pay taxes, and every penny he takes after age 59.5 is taxed. The money Roth puts in is now taxed, and he doesn't have to pay taxes when he's 59.5 years old.

General is young, less well paid with Roth, older, better paid with Trad. In addition, Roth's liquidity is better than Trad's. Because of the money you put in Roth, you can always come up with no taxes and no penalties. Note: Just put in the money (contribution), not the gain.

Rollover: If you had 401k in your business and there was money in it, you left now. If you want more control over money and investment methods in the old 401k, you can transfer money from the old 401k into the IRA Rollover.

Choose a good account, start entering information! - It only takes 5 minutes.

Personal information: name, phone, email, address, birthday, Social Security number (NSS)

Additional information: Marriage, work, financial information (approximately)

Terms of consent

Set your account password

Complete

Other problems you may encounter include:

Investment experience (simple one-choice questions, no impact on your account, fill in the truth)

Processing inactive money (small interest will be given regardless of choice)

Procuration (right to trade for others)

Trusted Contact (Reliable Contact)

Three, transfer money to the account

Technically, you've opened a good account.

But I suggest you do one more thing, put money into your account, and at least put at least $50-$200 into your account.

What for?

If there is no money in it, no money bond, this account has opened you forget, because the investment is always a drag attitude. If there is money in it, you will start doing research with freshness and looking what to buy.

 It takes a few days for the money to be transferred from the bank to the account, and it is not immediately relaxed. When you look at what investment, but no inactive funds in the account can be used immediately, is the most difficult, do not ask me how I know ...

Select Transfer to link the account to transfer money from the bank.

You can also set up automatic transfer set up automatic investment, set dates and amounts to form your good savings and investment habit.

Is the money in the account put up for immediate sale?

No, you may have inactive money in the account, even if you will be given some interest, but the interest is very low, do not expect too much.