View Full Version : opening an IRA, help please

11-22-2005, 06:02 PM
Right now I have enough and am planning on opening a traditional IRA account. Im wondering, is it better to use scottrade if I plan on investing in like a vanguard index fund and maybe mutual funds, or is it better to go through vanguard itself?
Also I have had a Legg Mason account for a while, would there be any pros or cons in opening with them?

Sorry if this isnt very clear, im just not sure about the kind of fees involved with the different investing places.

11-22-2005, 08:11 PM
If you're only planning on investing in mutual funds, I would think you should look at the mutual funds available from each and the fees associated with the ones you wish to purchase. Buying a Vanguard index fund using a Vanguard account will cost nothing, but I'm assuming there will be a fee if you purchase it through Scottrade. On the other hand, if you wish to invest in stocks as well, Scottrade only charges $7 whereas Vanguard charges something like $25. Oh, and I think Vanguard charges a $50 annual fee for IRAs with less than $5000, so there's no way to get around that until next year, when you can contribute again.

11-23-2005, 03:10 PM
They charge $10.

11-25-2005, 09:20 PM
why not Roth?