Personal Investments • Schwab vs Fidelity for backdoor Roth IRA and or ladder?

Hello all,

I'm creeping towards the start of phased-out contributions for Roth IRA, and might meet it this year.

I've read into the backdoor process, and most of the guides online do a step-by-step for Schwab and Fidelity. My Roth is currently with Merrill; however, I reckon I'd be more comfortable backdoor-ing with one of the former (Schwab likely, as that's the walkthrough I've read).

Also, I am exploring the idea of establishing a CD or bond ladder.

I already have a relationship with Schwab, as is it home to my HSA; yet a recent frustration is HSA Bank's decision to stop working with Schwab. Already being discussed in another post, I read people are moving to Fidelity.

Both Schwab and Fidelity are well-regarded and feel it might be advantageous to have relationships with both. (I won't be abandoning Merrill either, as my brokerage will stay there for the time being.)

Assuming HSA moves to Fidelity and Roth moves to Schwab, which is best to set the ladder in? Any quirks with either to be mindful of, or another arrangement better?

Statistics: Posted by persona4826 — Mon Aug 05, 2024 7:53 pm — Replies 0 — Views 188

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