Best Self Directed IRA Platforms
An Individual Retirement Account -IRA- is a tax-advantaged investment vehicle that helps you reach your retirement goals. This can be used in conjunction with a company sponsored 401(k). I would recommend you are putting enough into your 401(k) to get your company match it available before opening your IRA account. The 2022 limit on IRA contributions for single under 50 is $6,000.
A Self Directed IRA just means you are the one selecting what your portfolio is comprised of. This can include stock, bonds, mutual funds, ETF as well as what percentage each will be in your portfolio. This may be a little more work than someone looking for The Boring Retirement may be looking for but each platform listed has recommended asset allocations.
If you would like to see something a bit more boring, refer to my other list on Robo Advisor IRA options!
There are a couple of popular IRA options.
A Traditional IRA can be your choice if you are looking to lower your taxable income. You may deduct all of your contributions and will not have to pay taxes on it until you withdraw the money for retirement.
A Roth IRA has contributions that are already taxed so you will be able to withdraw all contributions without taxes or penalties.
All of the included IRA platforms below are fantastic choices. When it comes to picking one of these 3, it’s all personal preference. I would recommend checking out each sites research and planning tools to truly decide what is right for you! E*Trade is my personal choice as I really enjoy the research tools provided.
| Institution | Account Minimum | Pros | Cons |
|---|---|---|---|
 | $0 | -No minimums or annual fees -Wide array of IRA options -Stock, bonds, ETFs, mutual funds, and several other options available -Bonus of up to $3,000 when opening a new account -Good research and planning tools | -High fees for advisor-assisted portfolios -No free, automated options |
 | $0 | -No minimums or annual fees -Wide array of IRA options -Stock, bonds, ETFs, mutual funds, and several other options available -Buy stocks by the slice -Great research and planning tools | -Advisor related trading is expensive |
 | $0 $10 to start | -No minimums or annual fees -Wide array of IRA options -Stock, bonds, ETFs, mutual funds, and several other options available -Great research and planning tools | -Advisor related trading is expensive |
