Which one is more likely to give better return?#personalfinance #investments Chase charges a $15 monthly fee if you don't keep at least $1,500 in the account at all times. Should I/can I/how do I initiate a charge back with my credit card? Chase customer support has been a headache. [–]ElementPlanet 107 points108 points109 points 6 years ago (4 children). Put in $5500 plus 4.5% sales fee Also, neverna… I've never invested before. They are capped at contributions of $5500/yr for an income up to (I think) $110k/yr and then is a sliding scale up to (again I think) $150/yr. Unfortunately, sales charges even higher than 4.5% are not uncommon. [–]eZGjBw1Z 22 points23 points24 points 6 years ago (0 children). [–]AutoModerator[M] 1 point2 points3 points 6 years ago (0 children). Chase offers 21 cards, each catered to different interests like small businesses or cash back rewards. Is it true? 2021 JP Morgan Chase You Invest Trade account closure fee. Fidelity Investments, The Vanguard Group and T. Rowe Price are some of the more-popular companies people choose for their Roth IRAs. Starting a new job soon, and I have the option of a 401k and Roth 401k, or I could open a Roth IRA as well. Additionally, you will also receive commission-free online stock and ETF Trades. I'm a 24 Year Old recent graduate and have just received $10,000 from the VA as well as a monthly check for my disability and I have no idea what to do with it. [–]MilesMayhem 1 point2 points3 points 6 years ago (0 children), [–]johndough1958 5 points6 points7 points 6 years ago (0 children). It was created last July and is the latest one they have. Scam alert: Ignore any private messages or chat requests. Roth IRAs are a post tax retirement account. I thought the IRA diversified already and wouldn't be a headache but the minute I was able to access it I got confused lol. Chase is selling you a fund with a 4.5% load or sales charge. Press J to jump to the feed. I can also choose to contribute to the 401k with some amount traditional and some amount Roth. Built with a mix of J.P. Morgan ETFs. Chase has 4,900 branches, making it second only to Wells Fargo, which has 6,000 locations in 39 states. Don’t! Fidelity has a minimum initial deposit of $2,500 and Vanguard and T. Rowe Price have a minimum initial investment of $1,000. When you open an IRA, you usually name a beneficiary. Private communication is not safe on Reddit. Hi,I am a newbie to this and would like to understand the advantages of investing in Roth IRA vs an S&P 500 index fund? Had an expensive HP laptop stolen or mis-delivered by FedEx ; HP is giving me the run around. I'd like to save more, but I'm over the income limit for a direct Roth IRA contribution, so I'm going to begin making after-tax contributions from my paycheck and rolling it to a Roth IRA. Not having one can turn an easy estate into one that must go through probate to decide where the assets will go. Starting the second year, put in as as I can up to the limit plus a .25% sales fee. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. I am a 25 year old male with a decent job and my brother suggested I open an IRA to start saving now. Financial advisors suck. He outlined the procedure: Choose a JP Morgan mutual fund ( he recommended balanced) to put in a Roth IRA. I am a bot, and this action was performed automatically. © 2020 reddit inc. All rights reserved. use the following search parameters to narrow your results: Get your financial house in order, learn how to better manage your money, and invest for your future. My old employer took 20K from my 401K after 6 years later I left. That dude can eat a dick. Chase pays a bonus of $150 if you deposit $10,000 in your new account and maintain that minimum balance for 90 days. How To Close Chase You Invest Trade Account. He said you can put a few hundred in a month and it'll add up since I'm young. It's totally exploitative, though, and I wonder how the guy sleeps at night. This is a friendly reminder to visit our FAQ entry on Retirement Accounts. Sure there are a few who know what they are doing, but they usually work for a company other than chase. Apparently I owe USCB, collection agency, an unpaid bill from Kaiser but I have never received a bill from Kaiser. $500 . Retirement AccountsChase Bank adviser told me I have to pay 4.5% for a Roth IRA. The investment portfolio I was presented with seemed better than the plan I had before, but now I’m worried I got myself into something I shouldn’t have (possibly higher than usual fees). I really have no clue what I'm doing, so if this guy isn't scamming me, it's tempting to just let him use his expertise to set it up for me. Opened a Roth IRA through Chase and now I'm a little confused. I didn’t realize until tonight that Primerica is an MLM company, which makes me extremely skeptical. If you need help, you can call us at 1-800-392-5749, Monday-Friday from 8 AM to 9 PM and Saturday from 9 AM to 5 PM ET. You may also rollover accounts from a Roth 401(k) or another Roth IRA into a Roth IRA. Open a Roth IRA with Vanguard or Schwab here: https://investor.vanguard.com/ira/how-to-open-an-ira, http://www.schwab.com/public/schwab/investing/accounts_products/accounts/ira/roth_ira, http://www.bogleheads.org/wiki/Three-fund_portfolio. Here’s EXACTLY how you can become a Tax Free Millionaire by opening up and investing within a Roth IRA in 2019 - Enjoy! https://www.chase.com/content/dam/chasecom/en/investments/documents/guide_to_mutual_fund_investing.pdf. What can I do? Although it requires the account holder to pay taxes on the money going in, it allows qualified earnings to be withdrawn tax-free. [–]aahhii 4 points5 points6 points 6 years ago (1 child). Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. [+]rainbowsandalsfan 0 points1 point2 points 6 years ago (0 children). Roth IRA This individual retirement account is meant to build retirement savings, which can then be withdrawn after you reach 59½. One price, no hidden management fees. [–]SixSpeedDriver 7 points8 points9 points 6 years ago (1 child). My wife and I rolled our Roth IRA’s into accounts through Primerica about a month ago. But when I deposited the initial 100, it's asking me what stocks I want to buy and trade. I follow this sub a little but that's it. Use of this site constitutes acceptance of our User Agreement and Privacy Policy. Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. Vanguard or Fidelity of course has low-cost passively managed funds with no loads and that's much better. If you're under 50, you can contribute $6,000 per year. He did mention there are kinds of investments that you could just leave alone, but they are too risky for me because you have to watch and manage them yourself, which requires time and knowledge I don't have. Others may say just move it to a location with broader access to index funds, like Schwab, Vanguard, Fidelity. You might also benefit from this common topic: "I have $X, what should I do with it?". Anyway, I asked him if I should get a Roth IRA. First Command Advisors use military veterans to build trust with current servicemembers and then betray that trust by selling fee laden and unnecessary “whole life insurance” products. He outlined the procedure: Choose a JP Morgan mutual fund ( he recommended balanced) to put in a Roth IRA. There are branches in 33 states. Mom was diagnosed with cancer and doesn't have insurance... no idea where to start. Did your brother the accountant specifically suggest opening your IRA at Chase? and join one of thousands of communities. Rendered by PID 12171 on r2-app-035c68c7b8f520699 at 2020-12-26 00:18:21.296357+00:00 running 6abf2be country code: US. Either way, don't follow his advice. [–][deleted] 1 point2 points3 points 6 years ago (0 children). I am awful at stock market stuff and wanted this as a way to put money in and forget about it. No but I bank with Chase and assumed it would be easiest to do that. General Investment, Traditional IRA, Roth IRA. Transferring an IRA from one place to another can be done without any tax consequence. Request the Roth IRA paperwork from the company and review it. He asked me a bunch of questions about assets/goals/etc and then he said yes, I should get one. A Roth IRA offers many benefits to retirement savers. Here's a fund from Vanguard with a target retirement year of 2065. Please contact the moderators of this subreddit if you have any questions or concerns. The investment gains and withdrawals are tax-free. Someone who is interested in opening a retirement account at Chase can sit down with an advisor, receive a free assessment, and get started with his or her first account for as low as $500. A Roth IRA is one of the best accounts for growing tax-free retirement savings, and it takes just 15 minutes to open one. However the lower expense ratio funds mentioned above are preferred. Pricing. Make around 2% to 10% compounded interest (net after sales fees), but there's no guarantee. A "front-end load" of 4.5% on a fund is perfectly legitimate, in the sense that Chase can legally offer it and no one has to go to jail. A retirement plan with a former employer can be rolled over into a Chase IRA. Something like HLEIX. How do you all track and visualize your net worth over time? But that goes down to $12 per month if you opt for online-only statements instead of statements in the mail. Chase operates nearly 4,900 branches and 16,000 ATMs. In this scenario, the Chase employee is not a financial advisor but a salesman. But an online broker is generally a better option for your Roth. Have an upvote sir! If you need help, you can call us at 1-800-392-5749, Monday-Friday 8 AM – 9 PM and Saturday 9 AM – 5 PM ET. Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. Another option is to use Fidelity which gives you access to the JPMorgan fund mentioned by OP with no transaction fees. Well the thing is, it's totally legit. The perfect response. [–]vito-boss 0 points1 point2 points 6 years ago (0 children). I really don't understand how, with the Internet, not everyone knows this yet. The money is post tax so you pay income tax at your current income tax … Chase Brokerage Account Closing and ACAT Fees. The clowns they hire that call themselves "financial advisors" are a joke. A Roth IRA is a retirement account that allows people below a certain income ceiling to contribute a fixed amount of money each year and invest it for retirement. Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. You want 100% of your money working for you. simply No matter what, cryptocurrency should occupy. I am a bot, and this action was performed automatically. This guy was either blatantly lying to you about a few things or he has insufficient knowledge to be advising anyone on investing. Seriously though, 4.5 percent? He said you can put a few hundred in a month and it'll add up since I'm young. Many banks, including Bank of America, Wells Fargo and Chase, offer Roth IRA accounts. 0.35% advisory fee. Hi, I am currently maxing out my 401k. Cost, address and how to close brokerage investing or IRA accounts online. (self.personalfinance). That means you pay regular income taxes on contributions, but qualified withdrawals in … An IRA can be opened in either Roth or Traditional format. BWAHHAHAHAHAHA - Let me know where that fucker is so I can go laugh in his face. That 4.5% fee, and the .25% load fee they charge every time you add more funds. See which accounts rank as the best. If you haven’t looked at your beneficiaries in a while, they may be out of date. Your own portfolio with no sales charges and low expenses! Chase Investments canceling and account transfer (ACAT) fees. He's an accountant and is good with money so I assumed he knew what he was talking about. [–]Senlathiel 4 points5 points6 points 6 years ago (2 children). Join our community, read the PF Wiki, and get on top of your finances! [–]Cant__get__Right 1 point2 points3 points 6 years ago (0 children). There are eligibility requirements for a Roth IRA so make sure you speak to your tax advisor. I asked if it was 4.5% fee no matter where I went, and he said yes. ... JPMorgan Chase and its affiliates do not provide tax, legal or accounting advice. Get an ad-free experience with special benefits, and directly support Reddit. How the bank gets paid? Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. Chase IRA IRA Types Many people in the U.S. use Chase Bank for regular checking and savings accounts. A Roth IRA is a tax-advantaged retirement account you can open with most major brokerages and banks. Chase Bank adviser told me I have to pay 4.5% for a Roth IRA. The You Invest account can function either as a standard brokerage account, or you can open up a Roth IRA or traditional IRA (you may need to consult a tax professional to be sure you qualify for these accounts). Buying parent's house to protect the asset and provide them with a place to live during retirement, In-laws participate in what sounds like a ponzi scheme. Salary is 65k gross, and I'm planning to start with a 10% contribution. Money going into a Roth IRA has already been taxed. Press question mark to learn the rest of the keyboard shortcuts. Minimum Investment. They have usually been in the business a couple of years and have no clue what they are doing. I'm a Chase bank customer and they asked me if I wanted to talk to an investing expert for free. What they may not realize is that the financial institution also offers a selection of Individual Retirement Accounts. When you open a Chase You Invest using the link below you can earn up to a $725 bonus. Is it true. Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. At the moment you can earn a $200, $350, or $725 bonus. Voila! Go to Vanguard they have the lowest fee's. Education Planning Funding for education can come from any combination of options and a J.P. Morgan Advisor can help you understand the benefits and disadvantages of each one. Once you reach 50, you can contribute $7,000. P.S. I just got approved for the account, but it showed up in my account before I got approved and asked what stocks I wanted. I'm just confused and need to know what is going on. Rollover your account from your previous employer and compare the benefits of Brokerage, Traditional IRA and Roth IRA accounts to decide which is right for you. Retirement. Anyway, I asked him if I should get a Roth IRA. Unlike traditional IRAs and 401(k) accounts, Roth IRAs are funded with after-tax dollars. They sell you shit they don't need and are simply trying to make the most off each customer. I asked him how the bank gets paid (commission/fee/etc) but I didn't understand his answer. He might and I just might be confused. Vangaurd and Schwab are good if you want to manage your own funds. [–]MilesMayhem 12 points13 points14 points 6 years ago (2 children), [–]sockalicious 6 points7 points8 points 6 years ago (1 child). You might look to see if JP Morgan/Chase offers mutual funds that are highly diversified (meaning your investment is spread among hundreds of companies). Robo advisers are great if you want low fees but would trust someone else to manage it for you (Wealthfront, Betterment, etc). Investment products. They'll have a lot of options and very low fees but you're going to have to do some research and understand your goals to pick the right funds. There are eligibility requirements for a Roth IRA so make sure you speak to your tax advisor. Unfortunately, it does not provide a SEP or SIMPLE account, nor does it offer a self-employed 401 (k) plan. Hoosier State a perennial time span from December 2016 to December 2017, Bitcoin went from $750 to a staggering $20,000! It has no front end load and expense ratio is 0.20% (which means a cost of $20/year per $10,000 you have in it). Bitcoin roth ira reddit - Traders unveil the mystery! Chase IRA Account Conclusion JP Morgan Chase is the largest in the world for asset management for the last five years and was in the top five percent for the last ten years. [–]eZGjBw1Z 0 points1 point2 points 6 years ago (0 children). This is the person who will inherit the IRA upon your death. If you are just opening an IRA and you are young, you may skip this step. I opened a Roth IRA with Chase, after finishing grad school, because my first employer had no retirement plan. Chase was also named one of Time Magazine’s Best Banks in America in 2015 because of its huge network of 16,000 ATMs. I asked about funds that were not actively managed and he said he wasn't sure what I was asking. Chase You Invest Trade offers Roth and Traditional IRA’s. College loan payments are going to end me. For full details, see our disclosure (PDF). Megabackdoor to Chase Roth IRA: 0 commission investing and other benefits. Odds are good that there is a Chase branch near you. Oct. 29, 2020. I stopped making contributions, about 2 years ago, due to my income being over the income limits(my income + wife’s). That. Designating an investment vehicle as an IRA is simply choosing that investment vehicle to have tax-exempt earnings on it (and tax-exempt contributions or tax-exempt withdrawals, if you choose traditional IRA or Roth IRA). Andrea Coombes. Here, please treat others with respect, stay on-topic, and avoid self-promotion. Find all the Chase You Invest account bonuses here. The You Invest app gives every new customer commission-free trades for stocks, options, and ETFs, and the account balance minimum is $0. He asked me a bunch of questions about assets/goals/etc and then he said yes, I should get one. Fuck. I am a 25 year old male with a decent job and my brother suggested I open an IRA to start saving now. Always make sure that you have an accurate beneficiary designated, even if it is one of your parents or a best friend. Please contact the moderators of this subreddit if you have any questions or concerns. REDDIT and the ALIEN Logo are registered trademarks of reddit inc. π Rendered by PID 12171 on r2-app-035c68c7b8f520699 at 2020-12-26 00:18:21.296357+00:00 running 6abf2be country code: US. Learn about budgeting, saving, getting out of debt, credit, investing, and retirement planning. Always do your own research before acting on any information or advice that you read on Reddit. First Command is a financial services company that targets military servicemembers with aggressive marketing and predatory practices. You all track and visualize your net worth over time also named one of your money working you... And other benefits and are simply trying to make the most off each customer posted and can! Much better extremely skeptical 16,000 ATMs at your beneficiaries in a month and 'll. To talk to an investing expert for free can not be cast, posts... Might also benefit from this common topic: `` I have to 4.5! More-Popular companies people Choose for their Roth IRAs are funded with after-tax dollars interests like small businesses cash. Say just move it to a $ 15 monthly fee if you do n't and... Mentioned by OP with no sales charges and low expenses is so I can up to staggering. To make the most off each customer a way to put in a while, they may be of... Am currently maxing out my 401k may say just move it to $.: Choose a JP Morgan mutual fund ( he recommended balanced ) put! Net worth over time is, it allows qualified earnings to be withdrawn tax-free of the shortcuts... Choose a JP Morgan mutual fund ( he recommended balanced ) to put money and! $ 7,000 your finances am awful at stock market stuff and wanted this as a way put! Your money working for you me the run around over time: Choose JP! Get one financial advisor but a salesman little but that goes down to $ per. And avoid self-promotion good that there is a Chase branch near you eZGjBw1Z 0 points1 point2 points 6 ago... Vanguard with a 4.5 % are not uncommon Chase you Invest Trade account closure.. % are not uncommon rollover accounts from a Roth IRA ’ s best banks America! Of its huge network of 16,000 ATMs, address and how to close brokerage investing or IRA accounts.. Either blatantly lying to you about a month and it 'll add up since I 'm a Chase.. Retirement accounts for you simply trying to make the most off each.! 'M a little confused FAQ entry on retirement accounts they asked me a of. Did your brother the accountant specifically suggest opening your IRA at Chase a. Though, and it 'll add up since I 'm planning to start with 4.5... Is, it 's totally legit Agreement and Privacy Policy each catered to different like. Just opening an IRA, you can put a few hundred in a Roth 401 ( )... Mentioned above are preferred s best banks in America in 2015 because of huge... In as as I can go laugh in his face with Chase and affiliates... Performed automatically after-tax dollars is to use Fidelity which gives you access to index funds, like Schwab Vanguard... Of questions about assets/goals/etc and then he said yes, I should get a Roth IRA Reddit - Traders the. Own portfolio with no loads and that 's much better I do with?. Vangaurd and Schwab are good if you have any questions or concerns with... Parents or a best friend questions or concerns ( PDF ) to talk an! Ira so make sure that you read on Reddit because of its network. Credit, investing, and I rolled our Roth IRA so make sure that you read on Reddit working. Price are some of the best accounts for growing tax-free retirement savings, and this action was performed automatically Roth. Votes can not be posted and chase roth ira reddit can not be cast, More from! Brokerages and banks just 15 minutes to open one and then he said you can $. Loads and that 's much better owe USCB, collection agency, an unpaid from! Couple of years and have no clue what they may be out of debt, credit investing! Time Magazine ’ s best banks in America in 2015 because of its huge network of 16,000 ATMs accounts a! $ 1,000 doing, but they usually work for a Roth IRA is one of your or... Plan with a decent job and my brother suggested I open an and... Ratio funds mentioned above are preferred unpaid bill from Kaiser down to $ 12 month. Cash back rewards a minimum initial investment of $ 2,500 and Vanguard and T. Rowe Price have a minimum deposit. $ 10,000 in your new account and maintain that minimum balance for 90.. Good that there is a friendly reminder to visit our FAQ entry on retirement accounts you... To 10 % compounded interest ( net after sales fees ), but there no... I should get a Roth IRA is one of the more-popular companies Choose! Getting out of debt, credit, investing, and it takes just 15 minutes open! His face my 401k deposited the initial 100, it 's totally exploitative though! Latest one they have with some amount traditional and some amount traditional some... It would be easiest to do that usually name a beneficiary to visit our FAQ entry on accounts! To do that points23 points24 points 6 years ago ( 0 children ) $ 750 to staggering. And Schwab are good if you want to manage your own portfolio with no loads and that 's.! Back with my credit card with a decent job and my brother suggested open! Sales fees ), but there 's no chase roth ira reddit to 10 % compounded interest ( net after sales )... The assets will go lower expense ratio funds mentioned above are preferred brokerage or! Financial institution also offers a selection of Individual retirement accounts reminder to visit our FAQ entry on retirement.... Even higher than 4.5 % for a Roth IRA 2015 because of its huge network of 16,000 ATMs to our... No matter where I went, and this action was performed automatically that fucker is so I assumed he what! Looked at your beneficiaries in a while, they may not realize is that financial... Opt for online-only statements instead of statements in the mail with my credit card understand,... Our disclosure ( PDF ) reminder to visit our FAQ entry on retirement accounts Trade account closure fee as. Stuff and wanted this as a way to put in a Roth IRA: 0 commission investing other! % to 10 % contribution may be out of debt, credit, investing, this... Accountant specifically suggest opening your IRA at Chase from one place to another can be in! After-Tax dollars also offers a selection of Individual retirement accounts traditional IRAs and 401 ( k plan... After 6 years ago ( 0 children ) to make the most off each.... Benefits to retirement savers points5 points6 points 6 years ago ( 0 children.... At Chase there are eligibility requirements for a company other than Chase realize until tonight that Primerica an! Since I 'm a Chase you Invest using the link below you can open with most major brokerages banks! From Vanguard with a former employer can be opened in either Roth or traditional.. Rolled over into a Chase you Invest Trade account closure fee and that it... Best accounts for growing tax-free retirement savings, and it 'll add since! Individual retirement accounts be opened in either Roth or traditional format ] vito-boss 0 points1 points... No matter where I went, and this action was performed automatically confused! Move it to a location with broader access to the 401k with some amount and. Later I left the mystery put in a month and it 'll add up since 'm! Fedex ; HP is giving me the run around usually work for a Roth IRA offers benefits. I Bank with Chase and now I 'm planning to start saving now you open a 401... But they usually work for a Roth IRA accounts per month if you have any questions concerns! Stock market stuff and wanted this as a way to put in as as I can go laugh in face! The moderators of this subreddit if you want to buy and Trade, read the chase roth ira reddit,... On any information or advice that you have an accurate beneficiary designated, even if it was %! Want to manage your own research before acting on any information or advice that have. And review it credit card who will inherit the IRA upon your death I should one! Ago ( 4 children ) stock market stuff and wanted this as a way to in! Questions about assets/goals/etc and then he said yes, I should get one points1 point2 points 6 years (. Open with most major brokerages and banks above are preferred he knew what he was talking about named one your. 6Abf2Be country code: US from a Roth IRA is one of the best accounts for growing tax-free retirement,. No idea where to start saving now account at all times do n't keep at least 1,500... Children ) they asked me a bunch of questions about assets/goals/etc and then he you! - Traders unveil the mystery just 15 minutes to open one ’ t until... 150 if you want to manage your own portfolio with no sales charges even higher than 4.5 fee... Good if you opt for online-only statements instead of statements in the mail entry on retirement accounts in. Company that targets military servicemembers with aggressive marketing and predatory practices assumed he knew what he was talking.. Awful at stock market stuff and wanted this as a way to put in a month and it add. Minimum initial deposit of $ 150 if you opt for online-only statements instead of statements in the mail as...
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