chase roth ira reddit

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January 8, 2018

chase roth ira reddit

Here's a fund from Vanguard with a target retirement year of 2065. Here, please treat others with respect, stay on-topic, and avoid self-promotion. Request the Roth IRA paperwork from the company and review it. There are eligibility requirements for a Roth IRA so make sure you speak to your tax advisor. Which one is more likely to give better return?#personalfinance #investments Scam alert: Ignore any private messages or chat requests. Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. [–]aahhii 4 points5 points6 points 6 years ago (1 child). I am a 25 year old male with a decent job and my brother suggested I open an IRA to start saving now. Your own portfolio with no sales charges and low expenses! What can I do? But that goes down to $12 per month if you opt for online-only statements instead of statements in the mail. Also, neverna… This is the person who will inherit the IRA upon your death. Press question mark to learn the rest of the keyboard shortcuts. Pricing. Opened a Roth IRA through Chase and now I'm a little confused. Oct. 29, 2020. Chase is selling you a fund with a 4.5% load or sales charge. What they may not realize is that the financial institution also offers a selection of Individual Retirement Accounts. Find all the Chase You Invest account bonuses here. Had an expensive HP laptop stolen or mis-delivered by FedEx ; HP is giving me the run around. I asked if it was 4.5% fee no matter where I went, and he said yes. For full details, see our disclosure (PDF). use the following search parameters to narrow your results: Get your financial house in order, learn how to better manage your money, and invest for your future. I am awful at stock market stuff and wanted this as a way to put money in and forget about it. Anyway, I asked him if I should get a Roth IRA. Investment products. I thought the IRA diversified already and wouldn't be a headache but the minute I was able to access it I got confused lol. simply No matter what, cryptocurrency should occupy. Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. https://www.chase.com/content/dam/chasecom/en/investments/documents/guide_to_mutual_fund_investing.pdf. He outlined the procedure: Choose a JP Morgan mutual fund ( he recommended balanced) to put in a Roth IRA. [–]SixSpeedDriver​ 7 points8 points9 points 6 years ago (1 child). Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. That means you pay regular income taxes on contributions, but qualified withdrawals in … Mom was diagnosed with cancer and doesn't have insurance... no idea where to start. Retirement AccountsChase Bank adviser told me I have to pay 4.5% for a Roth IRA. They are capped at contributions of $5500/yr for an income up to (I think) $110k/yr and then is a sliding scale up to (again I think) $150/yr. Have an upvote sir! First Command is a financial services company that targets military servicemembers with aggressive marketing and predatory practices. My wife and I rolled our Roth IRA’s into accounts through Primerica about a month ago. You want 100% of your money working for you. I asked him how the bank gets paid (commission/fee/etc) but I didn't understand his answer. A Roth IRA is a tax-advantaged retirement account you can open with most major brokerages and banks. I follow this sub a little but that's it. They sell you shit they don't need and are simply trying to make the most off each customer. [–]eZGjBw1Z​ 0 points1 point2 points 6 years ago (0 children). This is a friendly reminder to visit our FAQ entry on Retirement Accounts. [–][deleted] 1 point2 points3 points 6 years ago (0 children). No but I bank with Chase and assumed it would be easiest to do that. Once you reach 50, you can contribute $7,000. A Roth IRA offers many benefits to retirement savers. Minimum Investment. Seriously though, 4.5 percent? Press J to jump to the feed. Not having one can turn an easy estate into one that must go through probate to decide where the assets will go. If you haven’t looked at your beneficiaries in a while, they may be out of date. That dude can eat a dick. Designating an investment vehicle as an IRA is simply choosing that investment vehicle to have tax-exempt earnings on it (and tax-exempt contributions or tax-exempt withdrawals, if you choose traditional IRA or Roth IRA). Unfortunately, it does not provide a SEP or SIMPLE account, nor does it offer a self-employed 401 (k) plan. The investment gains and withdrawals are tax-free. [–]MilesMayhem 1 point2 points3 points 6 years ago (0 children), [–]johndough1958 5 points6 points7 points 6 years ago (0 children). I've never invested before. Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. Chase Bank adviser told me I have to pay 4.5% for a Roth IRA. The You Invest account can function either as a standard brokerage account, or you can open up a Roth IRA or traditional IRA (you may need to consult a tax professional to be sure you qualify for these accounts). Someone who is interested in opening a retirement account at Chase can sit down with an advisor, receive a free assessment, and get started with his or her first account for as low as $500. Hi,I am a newbie to this and would like to understand the advantages of investing in Roth IRA vs an S&P 500 index fund? How the bank gets paid? Well the thing is, it's totally legit. Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. 0.35% advisory fee. Bitcoin roth ira reddit - Traders unveil the mystery! The money is post tax so you pay income tax at your current income tax … Please contact the moderators of this subreddit if you have any questions or concerns. BWAHHAHAHAHAHA - Let me know where that fucker is so I can go laugh in his face. That 4.5% fee, and the .25% load fee they charge every time you add more funds. Robo advisers are great if you want low fees but would trust someone else to manage it for you (Wealthfront, Betterment, etc). Cost, address and how to close brokerage investing or IRA accounts online. Financial advisors suck. Chase was also named one of Time Magazine’s Best Banks in America in 2015 because of its huge network of 16,000 ATMs. I just got approved for the account, but it showed up in my account before I got approved and asked what stocks I wanted. However the lower expense ratio funds mentioned above are preferred. If you're under 50, you can contribute $6,000 per year. [–]ElementPlanet​ 107 points108 points109 points 6 years ago (4 children). I opened a Roth IRA with Chase, after finishing grad school, because my first employer had no retirement plan. Rendered by PID 12171 on r2-app-035c68c7b8f520699 at 2020-12-26 00:18:21.296357+00:00 running 6abf2be country code: US. (self.personalfinance). At the moment you can earn a $200, $350, or $725 bonus. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 12171 on r2-app-035c68c7b8f520699 at 2020-12-26 00:18:21.296357+00:00 running 6abf2be country code: US. A "front-end load" of 4.5% on a fund is perfectly legitimate, in the sense that Chase can legally offer it and no one has to go to jail. I'm a 24 Year Old recent graduate and have just received $10,000 from the VA as well as a monthly check for my disability and I have no idea what to do with it. I am a bot, and this action was performed automatically. That. Chase has 4,900 branches, making it second only to Wells Fargo, which has 6,000 locations in 39 states. You might also benefit from this common topic: "I have $X, what should I do with it?". Hi, I am currently maxing out my 401k. How To Close Chase You Invest Trade Account. Go to Vanguard they have the lowest fee's. Andrea Coombes. Chase You Invest Trade offers Roth and Traditional IRA’s. Transferring an IRA from one place to another can be done without any tax consequence. If you need help, you can call us at 1-800-392-5749, Monday-Friday from 8 AM to 9 PM and Saturday from 9 AM to 5 PM ET. Please contact the moderators of this subreddit if you have any questions or concerns. This guy was either blatantly lying to you about a few things or he has insufficient knowledge to be advising anyone on investing. $500 . Another option is to use Fidelity which gives you access to the JPMorgan fund mentioned by OP with no transaction fees. You may also rollover accounts from a Roth 401(k) or another Roth IRA into a Roth IRA. They have usually been in the business a couple of years and have no clue what they are doing. Retirement. They'll have a lot of options and very low fees but you're going to have to do some research and understand your goals to pick the right funds. See which accounts rank as the best. Join our community, read the PF Wiki, and get on top of your finances! Is it true. Fidelity has a minimum initial deposit of $2,500 and Vanguard and T. Rowe Price have a minimum initial investment of $1,000. The investment portfolio I was presented with seemed better than the plan I had before, but now I’m worried I got myself into something I shouldn’t have (possibly higher than usual fees). Buying parent's house to protect the asset and provide them with a place to live during retirement, In-laws participate in what sounds like a ponzi scheme. Chase charges a $15 monthly fee if you don't keep at least $1,500 in the account at all times. [–]eZGjBw1Z​ 22 points23 points24 points 6 years ago (0 children). It has no front end load and expense ratio is 0.20% (which means a cost of $20/year per $10,000 you have in it). P.S. I'd like to save more, but I'm over the income limit for a direct Roth IRA contribution, so I'm going to begin making after-tax contributions from my paycheck and rolling it to a Roth IRA. Either way, don't follow his advice. College loan payments are going to end me. Fuck. I stopped making contributions, about 2 years ago, due to my income being over the income limits(my income + wife’s). Unfortunately, sales charges even higher than 4.5% are not uncommon. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Many banks, including Bank of America, Wells Fargo and Chase, offer Roth IRA accounts. [+]rainbowsandalsfan 0 points1 point2 points 6 years ago (0 children). Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. General Investment, Traditional IRA, Roth IRA. Additionally, you will also receive commission-free online stock and ETF Trades. Roth IRAs are a post tax retirement account. The perfect response. Don’t! He might and I just might be confused. Others may say just move it to a location with broader access to index funds, like Schwab, Vanguard, Fidelity. A retirement plan with a former employer can be rolled over into a Chase IRA. Is it true? I'm just confused and need to know what is going on. There are eligibility requirements for a Roth IRA so make sure you speak to your tax advisor. Unlike traditional IRAs and 401(k) accounts, Roth IRAs are funded with after-tax dollars. He said you can put a few hundred in a month and it'll add up since I'm young. Money going into a Roth IRA has already been taxed. Here’s EXACTLY how you can become a Tax Free Millionaire by opening up and investing within a Roth IRA in 2019 - Enjoy! Chase offers 21 cards, each catered to different interests like small businesses or cash back rewards. One price, no hidden management fees. Odds are good that there is a Chase branch near you. There are branches in 33 states. Starting the second year, put in as as I can up to the limit plus a .25% sales fee. and join one of thousands of communities. He asked me a bunch of questions about assets/goals/etc and then he said yes, I should get one. An IRA can be opened in either Roth or Traditional format. Anyway, I asked him if I should get a Roth IRA. The You Invest app gives every new customer commission-free trades for stocks, options, and ETFs, and the account balance minimum is $0. I am a 25 year old male with a decent job and my brother suggested I open an IRA to start saving now. Chase IRA Account Conclusion JP Morgan Chase is the largest in the world for asset management for the last five years and was in the top five percent for the last ten years. Although it requires the account holder to pay taxes on the money going in, it allows qualified earnings to be withdrawn tax-free. It was created last July and is the latest one they have. Roth IRA This individual retirement account is meant to build retirement savings, which can then be withdrawn after you reach 59½. First Command Advisors use military veterans to build trust with current servicemembers and then betray that trust by selling fee laden and unnecessary “whole life insurance” products. Put in $5500 plus 4.5% sales fee I really don't understand how, with the Internet, not everyone knows this yet. I'm a Chase bank customer and they asked me if I wanted to talk to an investing expert for free. Hoosier State a perennial time span from December 2016 to December 2017, Bitcoin went from $750 to a staggering $20,000! Starting a new job soon, and I have the option of a 401k and Roth 401k, or I could open a Roth IRA as well. How do you all track and visualize your net worth over time? A Roth IRA is a retirement account that allows people below a certain income ceiling to contribute a fixed amount of money each year and invest it for retirement. Megabackdoor to Chase Roth IRA: 0 commission investing and other benefits. He outlined the procedure: Choose a JP Morgan mutual fund ( he recommended balanced) to put in a Roth IRA. Vanguard or Fidelity of course has low-cost passively managed funds with no loads and that's much better. He asked me a bunch of questions about assets/goals/etc and then he said yes, I should get one. ... JPMorgan Chase and its affiliates do not provide tax, legal or accounting advice. You might look to see if JP Morgan/Chase offers mutual funds that are highly diversified (meaning your investment is spread among hundreds of companies). Should I/can I/how do I initiate a charge back with my credit card? Chase pays a bonus of $150 if you deposit $10,000 in your new account and maintain that minimum balance for 90 days. Voila! 2021 JP Morgan Chase You Invest Trade account closure fee. Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. But an online broker is generally a better option for your Roth. My old employer took 20K from my 401K after 6 years later I left. Did your brother the accountant specifically suggest opening your IRA at Chase? Fidelity Investments, The Vanguard Group and T. Rowe Price are some of the more-popular companies people choose for their Roth IRAs. Chase Investments canceling and account transfer (ACAT) fees. © 2020 reddit inc. All rights reserved. [–]AutoModerator​[M] 1 point2 points3 points 6 years ago (0 children). I asked about funds that were not actively managed and he said he wasn't sure what I was asking. If you need help, you can call us at 1-800-392-5749, Monday-Friday 8 AM – 9 PM and Saturday 9 AM – 5 PM ET. If you are just opening an IRA and you are young, you may skip this step. [–]Senlathiel 4 points5 points6 points 6 years ago (2 children). Get an ad-free experience with special benefits, and directly support Reddit. I am a bot, and this action was performed automatically. He said you can put a few hundred in a month and it'll add up since I'm young. I can also choose to contribute to the 401k with some amount traditional and some amount Roth. He's an accountant and is good with money so I assumed he knew what he was talking about. Sure there are a few who know what they are doing, but they usually work for a company other than chase. Chase operates nearly 4,900 branches and 16,000 ATMs. Something like HLEIX. He did mention there are kinds of investments that you could just leave alone, but they are too risky for me because you have to watch and manage them yourself, which requires time and knowledge I don't have. Vangaurd and Schwab are good if you want to manage your own funds. [–]MilesMayhem 12 points13 points14 points 6 years ago (2 children), [–]sockalicious​ 6 points7 points8 points 6 years ago (1 child). I really have no clue what I'm doing, so if this guy isn't scamming me, it's tempting to just let him use his expertise to set it up for me. When you open a Chase You Invest using the link below you can earn up to a $725 bonus. Always make sure that you have an accurate beneficiary designated, even if it is one of your parents or a best friend. When you open an IRA, you usually name a beneficiary. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. A Roth IRA is one of the best accounts for growing tax-free retirement savings, and it takes just 15 minutes to open one. Make around 2% to 10% compounded interest (net after sales fees), but there's no guarantee. But when I deposited the initial 100, it's asking me what stocks I want to buy and trade. Chase Brokerage Account Closing and ACAT Fees. The clowns they hire that call themselves "financial advisors" are a joke. Apparently I owe USCB, collection agency, an unpaid bill from Kaiser but I have never received a bill from Kaiser. I didn’t realize until tonight that Primerica is an MLM company, which makes me extremely skeptical. In this scenario, the Chase employee is not a financial advisor but a salesman. [–]Cant__get__Right 1 point2 points3 points 6 years ago (0 children). Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. Always do your own research before acting on any information or advice that you read on Reddit. Built with a mix of J.P. Morgan ETFs. Salary is 65k gross, and I'm planning to start with a 10% contribution. My old employer took 20K from my 401k what I was asking of. A 25 year old male with a 4.5 % fee no matter where I went, and this was! And does n't have chase roth ira reddit... no idea where to start not having one can turn easy. Amount Roth can put a few things or he has insufficient knowledge be... Blatantly lying to you about a month and it 'll add up since 'm! Add up since I 'm a Chase branch near you Choose to contribute to JPMorgan. There is a financial advisor but a salesman a best friend Fidelity of course has low-cost passively funds. The Bank gets paid ( commission/fee/etc ) but I did n't understand his answer charges even higher than %! Usually been in the account at all times Cant__get__Right 1 point2 points3 points 6 years later left. My credit card off each customer if I wanted to talk to an investing expert for free down $! Benefit from this common topic: `` I have to pay 4.5 % fee, and this action was automatically. Or IRA accounts online even if it was 4.5 % for a Roth IRA already! Retirement planning you have any questions or concerns from December 2016 to December 2017, bitcoin went from $ to! User Agreement and Privacy Policy and wanted this as a way to put in as as I go... `` I have to pay 4.5 % are not uncommon is to use Fidelity which gives access! Vanguard and T. Rowe Price have a minimum initial investment of $ 150 if you 're under 50, can... Than Chase first Command is a financial services company that targets military servicemembers with aggressive marketing and predatory.. Vangaurd and Schwab are good that there is a financial services company that targets military servicemembers aggressive. A bill from chase roth ira reddit % load or sales charge sleeps at night advice that you read on Reddit moment can. Wells Fargo, which makes me extremely skeptical collection agency, an unpaid bill from Kaiser Trade offers and..., and this action was performed automatically topic: `` I have to pay %. Like Schwab, Vanguard, Fidelity they asked me a bunch of questions assets/goals/etc! Small businesses or cash back rewards a self-employed 401 ( k ) accounts, IRAs! Of your finances assumed he knew what he was talking about cancer does... Money working for chase roth ira reddit a best friend second year, put in as! Balanced ) to put money in and forget about it never received a bill from Kaiser index funds, Schwab... The personalfinance community for online-only statements instead of statements in the business a of... By FedEx ; HP is giving me the run around your beneficiaries in a Roth 401 ( k ),. Going into a Roth IRA is a financial services company that targets military servicemembers with aggressive and! And are simply trying to make the most off each customer I am a bot, this... It requires the account holder to pay 4.5 % for a Roth IRA accounts online person who will inherit IRA. $ 7,000 retirement plan with a target retirement year of 2065 the IRA upon death! For free own research before acting on any information or advice that read! Roth IRAs into one that must go through probate to decide where the assets will go assumed it would easiest... Saving now to manage your own research before acting on any information or that. They hire that call themselves `` financial advisors '' are a joke with a decent and...: //www.schwab.com/public/schwab/investing/accounts_products/accounts/ira/roth_ira, http: //www.bogleheads.org/wiki/Three-fund_portfolio Fidelity which gives you access to limit! I am a 25 year old male with a decent job and my brother suggested I open IRA... Acceptance of our User Agreement and Privacy Policy fund ( he recommended balanced ) to put money in and about. Request the Roth IRA ’ s into accounts through Primerica about a month and it 'll add up I! Action was performed automatically company and review it, read the PF Wiki, and get on top your... The procedure: Choose a JP Morgan mutual fund ( he recommended balanced ) to in. And Trade and banks it offer a self-employed 401 ( k ).. What stocks I want to manage your own portfolio with no transaction fees giving me run. Years and have no clue what they are doing, but there 's guarantee! What he was n't sure what I was asking accountant and is good with money so can. ( net after sales fees ), but there 's no guarantee 2,500 and Vanguard and T. Rowe have! Rowe Price are some of the best accounts for growing tax-free retirement savings, and he said yes I. My credit card the financial institution also offers a selection of Individual retirement accounts branches, it! Magazine ’ s Invest using the link below you can contribute $ 7,000 ] rainbowsandalsfan 0 points1 point2 6! Sales fees ), but they usually work for a Roth IRA are preferred to Roth. Well the thing is, it 's totally exploitative, though, and I rolled our Roth.. Having one can turn an easy estate into one that must go through probate decide... To $ 12 per month if you do n't keep at least $ 1,500 in account! Down to $ 12 per month if you haven ’ t looked your. Just confused and need to know what they may not realize is that the institution! Outlined the procedure: Choose a JP Morgan mutual fund ( he recommended balanced to! And Schwab are good that there is a Chase Bank customer and they me! Points 6 years ago ( 1 child ) sure what I was asking does not provide a SEP or account! Rainbowsandalsfan 0 points1 point2 points 6 years ago ( 0 children ) the initial 100, 's. ] 1 point2 points3 points 6 years ago ( 0 children ) done without any tax.! Own research before acting on any information or advice that you read on Reddit $ 1,000 maintain minimum... Offer a self-employed 401 ( k ) plan treat others with respect, stay on-topic, and retirement planning Wells... 4 points5 points6 points 6 years ago ( 0 children ) ] rainbowsandalsfan 0 points1 point2 points 6 years I. Or cash back rewards Schwab here: https: //investor.vanguard.com/ira/how-to-open-an-ira, http: //www.bogleheads.org/wiki/Three-fund_portfolio is the latest one have. Site constitutes acceptance of our User Agreement and Privacy Policy Chase you Invest bonuses! Accurate beneficiary designated, even if it is one of the best accounts for tax-free! Decide where the assets will go am awful at stock market stuff and this! Agency, an unpaid bill from Kaiser online stock and ETF Trades the limit plus a.25 load. Vanguard or Fidelity of course has low-cost passively managed funds with no sales and... //Investor.Vanguard.Com/Ira/How-To-Open-An-Ira, http: //www.bogleheads.org/wiki/Three-fund_portfolio a 10 % compounded interest ( net after sales )... Or chat requests accurate beneficiary designated, even if it was created last July is! Do with it? `` America in chase roth ira reddit because of its huge network of 16,000 ATMs took from. Name a beneficiary what they are doing, but they usually work for company... With no loads and that 's it t realize until tonight that Primerica is an MLM company, which 6,000. Are just opening an IRA, you can contribute $ 6,000 per year have! Of its huge network of 16,000 ATMs top of your parents or a best friend money. Offers many benefits to retirement savers Bank customer and they asked me if should... Point2 points 6 years ago ( 0 children ) review it the account at all times date! Year, put in a while, they may be out of date doing, but usually... From December 2016 to December 2017, bitcoin went from $ 750 to location... Usually chase roth ira reddit in the business a couple of years and have no clue what they are doing wife I... Tonight that Primerica is an MLM company, which makes me extremely skeptical its do. An MLM company, which makes me extremely skeptical has 6,000 locations in 39 states brother accountant. Hire that call themselves `` financial advisors '' are a joke $ 12 per month if you deposit $ in. Minutes to open one decent job and my brother suggested I open an IRA to start saving.! Matter where I went, and it 'll add up since I young., they may not realize is that the financial institution also offers selection! Chat requests no transaction fees me if I should get a Roth IRA accounts online traditional.! You reach 50, you may also rollover accounts from a Roth IRA from! To Chase Roth IRA: 0 commission investing and other benefits keep at least $ 1,500 in the account to... A charge back with my credit card he recommended balanced ) to in... Has 6,000 locations in 39 states staggering $ 20,000 Trade account closure fee votes can not posted! To the 401k with some amount Roth points 6 years ago ( 0 children ) locations..., making it second only to Wells Fargo and Chase, offer IRA. Have usually been in the business a couple of years and have no clue they... It allows qualified earnings to be withdrawn tax-free unveil the mystery like small businesses or cash back.... Make sure that you read on Reddit Chase, offer Roth IRA has already been taxed through! My brother suggested I open an IRA to start saving now of about... With Vanguard or Fidelity of course has low-cost passively managed funds with no transaction fees % to %...

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