How to Open a Roth IRA for the First Time (Step by Step)

本站添加: 2026-05-27

[00:00:00]Give me 40 seconds to show how to open Roth IRA for the first time. I'm Ilya, I'm 29. I came to the US and started from zero. If I can figure out money here, so can you. So, there are three big names you will hear. It's Fidelity, Schwab, and Vanguard. All three are solid. I went with Fidelity though because the app is clean, it's beginner-friendly, and there are no account minimums, which means you can start with literally a dollar. And here is what opening it actually looks like.

[00:00:22]You download the Fidelity app, create an account, and select retirement Roth IRA as your account type. You input your name, mobile phone number, email address, and a couple of more things such as social security number, and employment. And then you create your login and password, link your bank account, and make your first contribution. The whole thing took me less than 8 minutes, and it was my first time actually seeing that interface. One thing people miss though, and it backfires dramatically. Opening account is not enough. Please, you have to actually invest the money once it's in there. Cash sitting in a Roth IRA earns nothing. The inflation will be eating it up. In the next video though, I'll show exactly what I put in my money into, and why. Follow me so you don't miss episode three.