/biz/ - Business & Finance

[Anonymous No.27796586]

Hello.

I have Roth IRA that I opened when I was 18 with Bank of America. It's doing fuckall and making 0.0000001% interest. I want to invest it.

1. How do I move it to where I can invest in stock?

2. What broker should I go with?

3. How does this affect my taxes? Is it still a Roth IRA once I move it?

4. How do my earnings work? Say I make money, can I take it out without penalties? If I lose money, what happens, since it's a Roth IRA?

Thanks.

[Anonymous No.27797057]

[Anonymous No.27797342]

What? You fags don't know anything? I should've known better.

[Anonymous No.27797408]

>>27797342
ok bye

[Anonymous No.27797427]

>>27797342
Literally just go on investopedia or google it. There are so many resources out there, man

[Anonymous No.27797488]

>>27796586
CUTE KITTY

[Anonymous No.27797519]

>>27797342
We’re really only good at throwing money into shitcoins. Occasionally we make a profit but it’s not common, so I have absolutely zero idea why you think we know anything about finance

[Anonymous No.27797525]

>>27797408
Go fuck yourself.
>>27797427
I did Google it, but can't get an answer for Roth IRAs. I'm sure I'm just not using the correct search terms.

[Anonymous No.27797689]

1. BoA should be able to invest it for you

2. Fidelity

3. Roth is tax on what you put in, Traditional is tax break then tax when you pull it out

4.Earnings grow tax free in Roth, if you lose, you lose. Max contribution is 6k per year

[Anonymous No.27798079]

>>27797689

1. I want to self manage. I called BoA and they said I'd need to move to Edge. Fuck that lol.

2. Ok.

3. Ok.

4. Nice. Are those earnings subject to the same tax penalties as my original contributions are if I pull them out?

Thank you for answering.