Roth IRA at ING?

Amy Phillips — Tue, 22 Aug 2006 08:48:59 -0800

Is ING Direct a good place to have a Roth IRA? Other suggestions for easy, cheap plans? Can I do this without hiring a professional to advise me? I want to open a Roth IRA, but I don't have a lot of money to start with (a few hundred initially and maybe $100 a month thereafter) and I want to get a good deal. Is ING Direct's Roth IRA a good choice compared to other Roth IRA plans that I could open and manage on my own without paying for professional guidance?

I'm investing in a 401(k) through work, but there's no match, and I want to minimize my taxable income in retirement. I have savings and checking accounts at ING and PNC Bank. I like to minimize the total number of institutions I have to keep track of, and ING's online interface seems to make things really simple. But I'm willing to go to an outside company if that's really what makes the most sense financially.

A few specific questions: Everyone says "choose a plan with low fees." How low is low enough? 1%? 2%? Also, is it safe to just invest in the "agressive" plan if I'm not planning to retire for 40+ years, or do I need to do something else to manage risk? Are there any other factors I should take into account when choosing a company or choosing plans within that company?

I know similar questions have been asked before, but the companies' offerings seem to change very quickly and I think some of the answers from a year or two ago are outdated. Thanks for your help!

That's what I want

amarynth — Wed, 30 Nov 2005 08:56:05 -0800

Are there any hidden drawbacks to keeping my savings in an ING Direct Orange account? I know that I'll have to transfer my money to my regular bank account either online or over the phone to have easy access to it via ATM or checking account, but are there are other inconveniences?

Right now my money is in a Bank of America money market account, and the interest rate on the orange account is over double what I get from BoA. I use BoA's online banking and online bill pay services a lot.

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Roth IRA at ING?

That's what I want