Chapter 6

Opening Your Accounts


Bullet Comparing the major retirement account providers

Bullet Opening and funding an account

Bullet Looking deeply into fees

Bullet Evaluating investment options

Bullet Understanding when a robo-advisor makes sense

You might be a 401(k) or an IRA expert — and know every arcane rule and limit attached to retirement accounts. You might be able to recite the IRS code pertaining to retirement word-for-word and impress others at a (boring) party. But knowing about a retirement plan and creating one are different.

If you don’t know how to choose an account provider, open the account, fund it, and choose your investments, your retirement plan is just a plan. All that knowledge won’t make you a penny richer in retirement unless you act on it. “I’ll do it later,” is the most dangerous sentence in retirement planning.

Hence, the importance of this chapter. Here you find out the Who’s Who of the retirement plan space. You also discover how to choose a provider and set up your ...

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