Question : How do I buy a no load mutual fund for my Roth IRA?
How do I buy a no load mutual fund for my Roth IRA?It seems like any of the financial companies that you go to are hawking there products and not giving a straight answer on buying a non load mutual fund.Also-how can I find out what types of returns a particular no load fund is providing?Thanks.
- asked by batman253
All Answers:
Answer #1
Go to a discount broker. TD Ameritrade, Schwab,E-trade you can select from a thousand no loadfunds. They also have tons of free research ontheir websites for their customers. If you wantadvice from a pro, then you will most likely buy aload fund. This is how they get paid and there isnothing wrong with that. Here is a break down ofdifferent load funds .Class A - upfront charge,lower annual feeClass B - No upfront charge, butdeffered sales charge if you sell it with acertain amount of yearsClass C- No upfront charge,one year deffered sales charge of about 1%.
- answered by keepyoureyeswideopen
Answer #2
Go to yahoo finance
http://finance.yahoo.com/fundsUse there screenerto look up no-load funds, you can also see returnsas well.Just remember past performance is not anindication of future performance :)
- answered by Finance Guru
Answer #3
Do a web search for "discount broker". Then lookaround at those sites and see what mutual fundsthey have with no transaction fee. That shouldtell you the history of the funds, expense ratio,minimum opening or addition amounts, and minimumholding time to avoid a short term holding fee.The performance figures or charts should alreadyhave the expense ratio factored in.I happen tohave my Roth IRA and most of my IRA at Fidelity,but there is Vanguard or others. Note that somebrokers with cheapest stock trade fees do not payas much interest on cash waiting to be invested.
- answered by efflandt
Answer #4
Go directly to any of the major fund houses likeVanguard, T. Rowe Price or Fidelity and open yourIRA there. Morningstar.com is an excellent sourceto review or screen funds.
- answered by newjerseyguy
Answer #5
You have to remember that they are working aswell, and in turn need to be compensated for theirwork. Remember that even a no load fund has fundfees that are charged, you'll never see these,because it is not a commission, but a managementfee, Usually 1-2%. One option is to go direct toa no load fund and open an account. Most fundshave internal custodians that handle the accounts.
- answered by Mike
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