The Best Stockbroker for Your Investments
We pride ourselves on telling you the truth at all times. Until now. We’re about to lie to you. It is a lie that has plagued you for your entire life, but it is still anywhere from almost nothing to a huge annoyance.
“One size fits all.”
False! My socks “fit {shoe} size 9-12.” I’m a nine. There’s 3/4 of an inch of the sock between my toe and the inside of my shoe. That 3/4 of an inch of fabric isn’t about me! It’s about the Size 12 guy who is playing small forward for the Warriors!
Am I ranting, or going someplace with this? Actually, we’re about to discuss stockbrokers. One broker doesn’t fit all investment needs. Let us help you find the best stock broker for your financial needs.
The Best Stockbroker for a 401k.
One of the main tools your employer uses to retain top-quality talent is a company 401k plan. Pre-tax deposits on payday help build your retirement nest egg. Tax advantages gained by matching employee contributions make this a win-win. The public relations perks within the company add a third win to the mix.
Our #1 choice is T. Rowe Price.
Our #1 choice is T. Rowe Price.
The major selling points are no annual fees for the employer and no employee set-up costs. Our second choice is Charles Schwab.
The Best Stockbroker for an IRA.
401ks are great, and they’re the first stop for retirement funds in most employer/employee relationships. But we know there are some reasons you may wish to go in a different direction. Maybe you earn your living as a freelance specialist. Many people, given a chance, prefer an IRA over a 401k for its greater flexibility of investment choices.
Our #1 choice is E-Trade.
Our #1 choice is E-Trade.
The major selling points are a $0 minimum, and reasonable fees for tweaks such as account recharacterizations and excess withdrawal amounts or occasions. We also like the $6.95 trade price. Our second choice is Merrill Edge.
The Best Stockbroker for a Roth IRA.
Likely, you already know that your IRA’s “balance” isn’t altogether yours. Since an IRA consists of pre-tax contributions, you’ll pay tax on the withdrawal. For a 100% withdrawable option, consider investing in a Roth IRA, funded by after-tax money and all yours when the time comes.
Our #1 choice is T.D. Ameritrade.
Our #1 choice is T.D. Ameritrade.
The major selling points are no service fees, two months of commission-free trading, and up to a $600 bonus when you fund the account. Our second choice is Ally Invest.
The best Robo-Broker.
Remember “set it and forget it, guy.” He was (probably is) an infomercial cowboy who made a pile of cash with that phrase. A Robo-broker works the same way because it learns your personal risk tolerances along with your trade preferences and designs an appropriate investment algorithm for you. It is a low-cost option, but the returns can be startlingly good.
Our #1 choice is Schwab Intelligent Portfolios.
The major selling points are no service or advisory fees, and no commissions. Our second choice is M1 Finance.
The Best Stockbroker for Beginners.
We know that it is easy to find yourself lost in the minutiae of finance. That’s why it is our commitment to being understandable. The worst decision you could make is to skip investments altogether. Fortunately, some stockbrokers are good at this. They are willing to assist in your understanding of money, its destination, and its path home to you. As a result, your sleep is better tonight.
Our #1 choice is Charles Schwab.
Our #1 choice is Charles Schwab, and our second choice is Fidelity.
Do you feel like your way forward is a little more clearly defined? If so, that’s good, because your financial and investment well-being is key to health and life satisfaction. Continue to follow Gildshire for more ideas, because one size of us really does fit all.
