{ "media_type": "text", "post_content": "Recommendations for where to open a Roth IRA and how to maximize returns? I currently have a Roth IRA certificate (3.2% rate) but the rate at my credit union for a regular Roth IRA savings account are really low.", "post_id": "5f11ab0de5fc2f001b9d8bc8", "reply_count": 4, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Recommendations for where to open a Roth IRA and how to maximize returns? I currently have a Roth IRA certificate (3.2% rate) but the rate at my credit union for a regular Roth IRA savings account are really low.

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So you might be getting a couple things mixed up here (or maybe I’m missing something!). A Roth IRA is an investment account, not a savings account. You’re return is dependent on what you invest in. I’m not sure what an IRA certificate is, but I would open an account at Fidelity, Charles Schwab, or Vanguard, and invest in a total market fund (if you’re in your 20’s or wary 30’s)

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My apologies for the lack of clarity, my credit union refers to their Roth IRA as a deposit account. It has an interest rate akin to basic savings account rates so that's why my initial response labeled it like that. I am interested in recs for where to open a Roth IRA investment account instead so I can get better returns. Right now I have a Roth IRA deposit account certificate. The certificates have higher rates than the regular Roth IRA deposit accounts at my CU. Thanks for your recommendations!

Any financial advisor can open a Roth. My recommendation is to just do it through your bank and invest in some individual stocks. I use chase you invest. Just moved that over from USAA. Most large banks have a platform. Just make sure to earmark the account as Roth. Once you open the account, fund it with the 6,000 max and play ball. You’ll probably have a hard time finding an advisor that is going to take a 6,000 account serious. Do it on your own.

You can do better self directing if you just put in some time and effort. Otherwise do an etf index fund like qqq. Target year funds are easy too but growth is usually oh so boring.

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