[Stef]

Recommendations on where to start a Roth IRA for my teens?

They will have earned income etc, just looking for reccs on where to park some money in the market for them now so they’ll hopefully get a leg up on saving for later.

I want to help them start saving early for their future, but I’m unsure which financial institution is most suitable.

I’m considering factors like low fees, ease of use, investment options, and any special benefits for young investors.

Would appreciate any recommendations or insights from those who have already gone through this process!

[Grant]

We used fidelity and parked their money in the Fidelity SPAXX ACCOUNT (which makes 4.9% interest). Then, bought the funds we wanted.

[Angel]

Ask your teens what they want to invest in.
One of mine did VGT (Vanguard Information Tech ETF)+ VYM (high dividend ETF) and the other did VOOV + VTI.

It’s been fun watching them.

[Kristen]

Fidelity. Just be sure to teach them the second step after contributing, and make sure they then invest that contribution so it isn’t sitting in the core holding for years.

My teens are in FZROX.

[Judith]

I like Fidelity’s user interface and already had my 401k with them, so we used them for my daughter’s Roth.

[Daniel]

Fidelity had a sign on bonus for the custodial Roth IRA we opened for the older kiddo a couple years ago

[Kris]

Schwab, Fidelity, Vanguard (in that order IMO as I prefer Schwab)

[Robin]

compounding is essentially important! My 53 year old friend heavily invested in CD’s a BIG NO NO and little Roth or ETF’s.

She has a fraction on what she should grow.

[James]

Take a look at Fidelity. Mostly for their zero fee index etfs. I look for low turnover and low management fees, the Fidelity ETfs fit those categories.

Do a quick online search and you’ll find promo codes to start their Roth accounts.

[Author]

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