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The best IRA accounts in the US

IRA, an Individual Retirement Account, is an account where you can stash your money for your retirement, and it comes with big tax breaks.

Financial security
Contribution to an IRA account is $5,500, with those who are of the age 50 and above are allowed an extra $1,000. To get the maximum savings, save as much as you can. The longer the money stays in this account the grow more. The annual contribution rises each year. It keeps your contribution more in size so you will end up getting more.

IRA aims to give customers investment options where they charge a low fee over a long term. Listed below are the 5 best IRA accounts found online –

  • Best Overall: E*TRADE
  • Best for Experienced Traders: TD Ameritrade
  • Best for Beginners: Scottrade
  • Best for long-view investors: Betterment
  • Best for long-view investors: Wealthfront
  • Cheapest option: Ally Invest

E*TRADE
It is an all-rounder and has won the best brokers award year after year. They offer access to every investment in every product and resource you can find. E*TRADE is filled with information on how to rollover your IRA, convert an IRA or just open a new account. Depending on how much you save/ transfer, deposit/ transfer, you will receive upwards of $600 for opening an account with E*TRADE. With E*TRADE, you can invest in 8,000 mutual funds, 1,300+ do not charge a transaction fee. It is one of the 5 best IRA accounts. Reasons to invest in it include:

  • Wide range of investment
  • No minimum account balance.
  • Deposit $10k or more, and you can trade freely for 60 days
  • They give access to extensive research and professional guidance

TD Ameritrade
TD Ameritrade is one of the best online brokers for trading and investing for a long term. They give you access to any amount of resource you need, from banking services to advanced trading tools and trading platforms. You also receive a $600 when you roll over from the old 401k. If all that isn’t enough, you can receive up to $600 when you roll over your old 401k. TD Ameritrade also has Chartered Retirement Planning Counselors which guide you to withdraw the money in a step by step method. It is one of the 5 best IRA accounts. WealthRuler which will help you plan your goals. Reasons to invest in this are:

  • No account minimum.
  • Access to 100 and more ETFs with no fees, but do talk to a Chartered Retirement Planning Counselor before making any decision.
  • It has been ranked by Barron for its Long-Term
  • It has also been ranked the ‘Best online broker for long-term investors.’

Scottrade
It is well known for its customer support and service. They take care of their clients, without bothering how much money you have in your account. You can put them back to work immediately, but at no cost to you. Scottrade adds a bonus of $1,000 cash when you open a new account. It is one of the 5 best IRA accounts. The reasons to invest in this IRA account are –

  • $0 to open a retirement account
  • Over 3,100 mutual funds and no transaction fee
  • 500 branches nationwide
  • Decent commission on trades

Betterment and Wealthfront
Betterment is an online platform. They have helped individuals plan their retirement. As a client, you are given access to add-on services such as tax loss harvesting, automated portfolio rebalancing, and all of this comes with low fees. Betterment customers pay .25 – 0.5 % annually, no trade fees, no transaction fees, and no rebalancing fees. Betterment’s new RetireGuide also help finely plan a retirement by providing interactive tools. Simply input details of your financial situation into the RetiredGuide and a series of questions on what you’re doing right and wrong. It is one of the 5 best IRA accounts. Reasons to open a Betterment account include:

  • Five-minute account set-up
  • No minimum account
  • No minimum for withdrawals/ deposits
  • Access to RetireGuide, plus long-term investment tools, they have automated tax loss harvesting and portfolio rebalancing and give access to low-cost liquid ETFs.

Wealthfront
Wealthfront is one of the largest and fastest-growing online financial advisors in the industry, and that’s partly due to the myriad benefits they offer including tax loss harvesting and automatic portfolio rebalancing. Wealthfront has a single stock diversification program Selling Plan, a service that is unique to Wealthfront. This helps anyone with public company stock sell their shares tax-efficiently and commission free. Wealthfront, unlike other investing services, charges a flat rate to customers the size of your portfolio does not matter. That rate is 25 percent, and that’s charged only on funds outside of the first $10,000 they manage for free. Wealthfront does not allow trading in individual stocks but offers low-cost ETFs that helps diversify the portfolio. Better yet, they offer a range of benefits that help you rebalance your portfolio, manage risk, and ultimately, get the most out of your investments. It is one of the 5 best IRA accounts. Reasons to invest in this are:

  • Minimum Account $500
  • No minimum on withdrawals/deposits
  • First, $10,000 is managed free of cost.
  • They have a fully mobile financial plan, refer a friend lets you earn services for free.
  • They have tax-optimized direct indexing, automatic tax loss harvesting, and automated portfolio rebalancing.

Wealthfront IRA is best for:

  • Novices starting out with small balances
  • Individuals and families in their 30s and 40s
  • Anyone who wants access to fully mobile investment management and financial planning

Ally Invest
Ally Invest is an online brokerage that only continues to improve after merging with Zecco in 2013. Both Ally Invest and Zecco were ranked in the top 20 brokers, so the combination of the two will only make things better for the new Ally Invest in 2015 and beyond. Ally Invest charges a low fee of $4.95 per stock. It is one of the 5 best IRA accounts. The reasons to invest in this are:

  • No minimum account trade.
  • Only $0.65 per options contract
  • It is rated as the best options brokers and trader network and allows you to see what others are doing with their money
  • Ally is best for high-frequency traders/options traders, self-directed investors and deal seekers
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