Individual Retirement Account Brokers 2013

Your 401K and 403b may not be sufficient enough to save for your retirement, and that is where IRA’s fit the missing spot and let you save more with tax advantages. An IRA lets you choose your own investment vehicles, and you can even avail the option of early withdrawals while avoiding any penalty. Below, you can find the list of leading brokerages that offer IRA’s with exceptional features.

What is Individual Retirement Account?

An Individual Retirement Account, or IRA, is an account that lets you invest and earmark funds for retirement, which can give you significant tax advantages. The most common IRA’s are Traditional and Roth. Provided that you are aware and abide by the rules and restrictions, an IRA can be one of the most efficient, cost-effective, and beneficial vehicle you have for funding your retirement.

Individual Retirement accounts can be categorized in five different parts:

Traditional IRA – contributions are often tax-deductible, all transactions and earnings within the IRA have no tax impact, and withdrawals at retirement are taxed as income (except for those portions of the withdrawal corresponding to contributions that were not deducted). Depending upon the nature of the contribution, a traditional IRA may be referred to as a “deductible IRA” or a “non-deductible IRA.” It was introduced with the Tax Reform Act (TRA) of 1986.

Roth IRA – contributions are made with after-tax assets, all transactions within the IRA have no tax impact, and withdrawals are usually tax-free. Named for Senator William V. Roth, Jr.. The Roth IRA was introduced as part of the Taxpayer Relief Act of 1997.

SEP IRA – a provision that allows an employer (typically a small business or self-employed individual) to make retirement plan contributions into a Traditional IRA established in the employee’s name, instead of to a pension fund in the company's name.

SIMPLE IRA – a Savings Incentive Match Plan for Employees that requires employer matching contributions to the plan whenever an employee makes a contribution. The plan is similar to a 401(k) plan, but with lower contribution limits and simpler (and thus less costly) administration. Although it is termed an IRA, it is treated separately.

Self-Directed IRA – a self-directed IRA that permits the account holder to make investments on behalf of the retirement plan.

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401k- When you participate in a 401(k) plan, you tell your employer how much money you want to go into the account. You can usually put up to 15 percent of your salary into the account each month, but the employer has the right to limit that amount. It might be worth your while to rally for a higher limit if it isn't as high as you would like it to be.
If you need in-depth information on brokerages offering IRA’s then you have surely landed on the right website. We cover brokerage firms that offer Traditional, Roth, Rollover and more IRA options.

TD AMeritrade
Online Stock Trades Market/Limit Order: $9.99
Retirement (IRA): No Minimum

Sharebuilder
Automatic Investments : As low as $1.00
Real-time Investments : $6.95
Retirement (IRA): No Minimum

Fidelity
Online Stock Trades
Market/Limit Orders: $7.95
Retirement (IRA): $2,500

Charles Schwab
Online Stock Trades
Market/Limit Orders:$8.95
Retirement (IRA): $1,000

Vanguard
Online Stock Trades:
Vanguard ETFs trade commission-free
Stocks and non-Vanguard ETFs: $7 for first 25 trades, $20 for subsequent trades
Retirement (IRA): $1,000

Scottrade
Online Stock Trades
Market/Limit Orders:$7.00
Retirement (IRA): $500

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