Direct Deposit

[Guest brettsim]

Question here guys.

Is there anyway to have a direct deposit of a pay check go in to a Roth. Like say 5% of your earnings get direectly deposited in the Roth.

If so how would i do this?

Brett

Also : How do you guys feel about Charles Schwab?

[John G]

Many but not all custodians will set up a program to take a bite from your checking account. The few times I have seen this it was for a specific monthly amount, not a percent.

On Schwab: accross the family we probably have about 12 accounts with them and perhaps 25% of all assets, a history of perhaps 10 years. They have their pluses and minuses. On the plus side: decent web site, decent executions of stock trades, reasonable range of mutual fund access, readable monthly statements, better than avg at answering the phone and offices in most major cities which is helful in getting paperwork done and if you travel. Minus side: general trading commissions are higher than the lowest internet firms (but executions can easily blow out this difference), web site can get very slow at times. Neutral: seem avg in number of mistakes which accross the board is relatively low. I guess they are a blend/hybrid firm with some of the electronic features but still have a decent human behind the counter and on the phone presence. Don't expect them to make decisions for you, its not their style.

[Guest Shelton]

Pershing offers this service.

You may sign up with any one of their correspondent brokers or use CSFB Direct