Is opening up an IRA through my bank the best way to open an IRA?
Answers: The best place to open your IRA is at the place that is the cheapest. I have my bank account and Roth IRA at Wells Fargo, because I don't have to pay any monthly service fees or trade commissions. If I found a better rate anywhere else, I would have opened my IRA there instead. But it is convenient having all my accounts linked together at one place.
My opinion is that it depends on how long the account will be open before you retire and need the money. If it's just a few years, then a bank is probably fine. With a short time horizon, it's probably best to put the money into something safer (which means lower yielding) like CDs.
If it's a long time until withdrawals will start, then I personally would open the account with either a mutual fund company like Vanguard, Fidelity, etc. or with a discount brokerage firm like TDAmeritrade, Scottrade, etc. and invest the money in stock mutual funds or ETFs (exchange traded funds). Historically, over long periods of time, stocks have provided far better returns than things like CDs, money market accounts, bonds, etc.
A lot of mutual funds and brokerage firms require $2000 or $3000 to open an account, but most mutual fund companies will let you open an account with a smaller amount if you agree to automatic investments every month.
Ask your bank what the fees are. You want to find the place that has the lowest fees.
I like Scottrade the best because they only charge $7 per trade and their service is great.
Some places charge more but provide you with investment research. I think this is unnecessary because you can get great research for free on the internet.
Not necessarily.
If you're not far from retirement and you only want CDs, then the bank is fine. If you're some years from retirement and need mutual funds, then I suggest that you avoid banks. Banks typically push their own proprietary funds which can be mediocre performers and have high fees. The banks like them because they are very profitable for the bank. You want something that's very profitable for you. Vanguard, Fidelity, and T. Rowe Price are all good companies that offer a variety of funds with low expenses.
Accounting assist needed?
Hurd Company acquired a building valued at $160,000 for property import tax purposes in exchange for 10,000 shares of its $5 par adjectives stock. The stock is widely traded and selling for $15 per share. At what amount should the building be recorded by Hurd Company?I give attention to the answer is 200,000, can you tell me if this is correct? and except can you tell and show me what is and how to do it?
Answers: The efficacy of the share in the Stock exchange on the time of booking into the book will be the value of 10,000 shares. For example on the daytime of the transaction being consumed and accounted is speak $15 then the expediency of the building will be $150,000 in files.*
The building would be carried at 160k with a debit for that amount You would credit 150k for the appeal of the stock in the exchange and credit 10k for a gain on the exchange.
Roth IRA - Vanguard or USAA?
I have hear so much about Vanguard but does anyone enjoy any experience with USAA? I want to unscrew up a brokerage account.Answers: If you want a self-directed brokerage rationalization where you can invest contained by stocks, ETFs, etc., then USAA is a virtuous choice. If you're content with mutual funds, I'd run with Vanguard.
Look at the fees for both.
I similar to Scottrade because they charge $7 per trade. That is the cheapest I've found and their service is great.
Vangaurd has low headship fees, but that does not gaurantee it will be a good investment.
Be sure to look at times gone by 10 years annual return at any fund you are considering purchasing.
About 75% of all mutual funds lower than perform the stock souk. So do your homework.