Scottrade Individual Retirement Account (IRA)

Scottrade, one of the Best Brokerages for IRA, offers an absolutely no-fee retirement account. The company has been around for over 30 years and is considered a stable and solid company. A leader in technology, Scottrade allows you to add the windows and tools that provide the information you need. Scottrade allows mutual fund investors to invest for free with no transaction fee on mutual fund over 2,800. The firm offers 7 usd flat rate commission on stocks and ETFs priced over 1 usd. Scottrade has a minimum of 500 usd to open an account.

Are you determined to save for your own retirement? As long as you have taxable earned income, you are eligible for making contributions to an IRA account. If you start your retirement plan now, you can take control of your financial future.

Whatever your retirement investing objectives, you can choose from among the IRA types offered by Scottrade: no fees IRAs, no account opening fee, no maintenance fee and no minimum annual requirements.

The IRA Types Offered by Scottrade are Traditional IRA, Roth IRA, SEP IRA, and SIMPLE IRA

  • Traditional Individual Retierement Accounts (Traditional IRAs) presents both tax advatages and investment opportunities for qualified individuals. You will enjoy the no setup fee, no annual fees and no termination fee. By choosing your own investment vehicles within Traditional IRAs,  you can take control of funding your future retirement. With the Traditonal IRA, your earnings are not only  tax-deffered, qualified individuals’ contributions are also tax-deductible. Traditional IRA withdrawals must begin after 70.

 

  • Roth Individual Retirement Accounts (Roth IRAs). If you prefer to take more control over future account withdrawals, Scottrade Roth IRA has no mandatory withdrawal age and no annual fees, no termination fee and no setup. A Roth IRA is different from a Traditional IRA. The contribution to a Roth IRA are taken after tax and there is no mandatory withdrawals from Roth IRA.

 

  • SEP Individual Retirement Accounts (SEP IRAs). Whether you are self-employed or an employer, SEP IRA may match your retirement planning strategy. Small business owner looking to provide retirement for themselves and their employees can go for this one. Employers are allowed tax deductions on SEP IRA contributions made on behalf of each elligible employee.

 

  • Simple IRA- Individual Retirement Account (SIMPLE IRA). This savings incentive match account is easy to setup and maintain and you will enjoy a wide selection of investment options. Self-employed or working for a small business with not more than 99 employees can enjoy the same tax benefit with Traditional IRA.

Its key advantages are:

  • Employee Retention- SIMPLE IRAs make it easier to attract and keep valuable employees.
  • Portability- If employees leave the company, all the contributions  go with them
  • Flexibility- Employees can prepare for retirement using an array of securities
  • IRS requirements for Simple IRAs are less complex than other retirements accounts.
  • Administrative costs are low compared to other types of IRAs
  • Conversion- With Scottrade, it’s easy to convert to another type of IRA if your team grows beyond 99 employees.

However, Scottrade has an additional 0.5% of the principal value commision for stocks under 1 usd. And has no electronic withdrawals (but can use debit card or checks).

 

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