When opening or starting a Roth IRA, will I need to give some of my profits to the firm that set it up for me?

Question

For example: If when I retire at 65, My IRA is worth $500,000, will I need to give a cut of that to the firm who set it up decades ago?

Answer 1

NO, I never had to give them anything.

Answer 2

It depends on what sort of investments your Roth is made up of. Also depends on the broker you are dealing with. A good bet is to go with a discount brokerage like T. Rowe Price or Vanguard, chose no-load (no-commission) funds with the lowest annual expense ratio. It also depends on how you make your contributions (in a lump sum or periodically).

Answer 3

If your ROTH is invested in mutual funds, you will pay small " management fees" along the way. It is nothing to fret about.

You would never have to pay " directly" upon withdrawal...just something like 1.3% yearly...( someone HAS to pay for the analysis, buying, selling, etc .. there are PEOPLE working for you " managing" those funds all along )

...and my " people" have been making returns of high twenties into the thirty percent areas.. ( FEMKX, EUROX, FLATX ) gladly will I give 1.3% to have them work for me...

...and upon withdrawal in a ROTH, you owe NOBODY..( not even the greedy politicians...who ALWAYS want a " cut" )

Good luck

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