How Do I Sign Up for a Roth IRA?

I currently use a Scottrade account.  They offer a low fee for trading, great customer service, and a wide range of funds to choose from.  When I was young and wanted to learn as much about investing as I possibly could, I often went to my grandfather.  He has invested his own money for his entire life, choosing individual stocks along the way.  He taught history for some 40 years with five kids and now he has a very stable and respectable retirement.  I respect him for many reasons and his knowledge is one of them.  Anyways, my grandfather has also used Scottrade for the last few years.  This may mean nothing to you, but Scottrade is one of the better brokerages out there.  I could also recommend Fidelity as I have had experience with them, but Scottrade still has lower fees overall.

To open the account follow the following steps.

1. Go to Scottrade.com

2.  Click “Open A New Account”

3. You will then be prompted to fill out some personal information such as your name and email.

4. Then a screen will appear that lets you select what type of account.  Select Roth IRA.

5. It will then ask how you heard of them for their marketing reasons.

6.  The following pages will be further information about your employment and other personal information.

7.  You will then be given an account number and you can create a password.

8.  A signature page will need to be printed off and mailed to your local branch.  This page can be found in the Forms section of your account.

9.  Lastly, the account needs to be funded.  A minimum of $500 is needed.  It can be sent by check or as a bank transfer. 

Many people know what a Roth IRA is but not at all how to open one.  So, I hope this article has helped.  Please leave a post or email if you have any questions.