I have an Roth IRA acct thru Sharebuilder is that good or bad? Or do I need a better IRA acct?

Question

I can only put a little money every three month? I need something that will make me more money? I thought opening this Roth IRA would be good but my 3 stocks aren't doing very good Please help? And how much will it cost me to close out the Roth IRA it's under $50.

Answer 1

You can have multiple (Roth) IRA accounts, only restriction is you should not contribute more than $5,000 into them combined.  You should be able to make extra contributions besides the ShareBuilder scheme to the same account.  Stocks will go down, stocks will go up, just leave them alone.  If you really want to close it, you can do it, and usually the institutions do not charge anything for it - but your individual case may be different, inquire with them./

Answer 2

you should not have a ROTH IRA under 50 dollars and think its going to make you money right now... you need to leave that 50 dollars alone.. an IRA is an individual retirement account and you cant touch it until you are 60 without penalties. You need to read some stuff on Investopedia.com to find out what you need to invest in.

You are working with very little money being only 50 dollars... 5000 dollars is a little bit of money in an IRA... you dont need an IRA account at all if you dont understand what it is for...