Roth IRA ???????????????

[Michael O.]

Newbie here,I’ve done some research on the Roth IRA,I’m still kind of lost as to where to get started. I have about 5k to invest ,not sure if I want a self directed Ira or Robo advisor. I would really appreciate some recommendations.

[Bill F.]

@Michael O. 

You can open an IRA at most banks an/or online. It is simply an account that you can buy and sell stock/bonds, ETFs and the like while not paying taxes until you retire.

At this point in your life a vanilla IRA is all you need, since most Self Direct IRAs have fees to administer them, which will eat up your $5k.

Save up your money for a few years and then look into Self Directed accounts down the line.