Roth IRA with Etrade

[Guest hustler98]

Does anyone use etrade for their roth ira account ? If so I wanted to know if we could purchase stocks/mutual funds and other types of money funds for the roth ira account ? I hear that you need to leave the money for 5 years in order to take the money out to buy a home ? I am fairly new and need some guidance. Thanks.

ken

[John G]

Etrade is a reputable online brokerage. My childrens Roths are at Etrade using a couple of no load mutual funds. If you elect email statements (or something like this) you can avoid annual fees.

You will have thousands of investment options in mutual funds, plus stocks at Etrade. You don't purchase "for" your account... you purchase within your account. Contributions are made in cash for a Roth.

You can remove contributions at any time for any reason. Removing earnings is different.

If you need some guidance on initial investments, you can search this message board using key words like "started", "beginner", "index funds", etc. OR, post again!

[Guest hustler98]

Thanks John G,

Very helpful. If I want to purchase a home within the next 3 years or so, will I be able to withdraw that money from etrade (roth ira) ? Isn't there a time constraint before money is withdrawn for a 1st home owner ?

Ken

[Guest OCNLVR]

I love E*Trade! I have ROTH with E*Trade for 6 years now. What I like best are the choices of mutual funds, including bear funds, which I benefited during the market crash in the 2000-2002. They also allow you to write covered calls, buy calls and puts options in IRA accounts. These are somewhat risky and leveraged methods which are typically used in most trading accounts but rarely seen in IRA accounts.