Saving for retirement can be challenging, with many people not knowing where to begin. While there are a variety of accounts to choose from, the digitalization of retirement investing has made the process much easier and less time-consuming for individuals. Nowadays, many companies offer in-house services and a wealth of resources to help clients find the best assets and investment strategies, reducing the need for external financial advisors, while others offer generous 401(k) match plans.
Below are some of the top retirement investment companies to consider.
Top Retirement Investment Companies
- Fidelity
- Vanguard
- Charles Schwab
- Tastytrade
- Public
- Empower
- Betterment
Top Retirement Investment Companies
Fidelity is one of the largest retirement account providers in the world and offers multiple investment products and services. For individuals, the financial services company offers Traditional and Roth IRA accounts, which have distinct tax advantages and enable people to save money or invest in stocks, mutual funds and ETFs. Fidelity also works with businesses to provide employees 401(k) accounts.
Vanguard is another big name in the retirement investing space. The company provides various Roth accounts, which enable individuals to withdraw contributions with no penalties at age 59 and half, as well as employer-sponsored 401(k) and 403(b) products. However, what makes Vanguard a popular choice is its extensive lineup of low-cost ETS and mutual funds, which can help investors minimize expenses.
Founded in the 1970s, Charles Schwab helped popularize low-cost investment vehicles among individuals with retirement accounts. The company provides the typical retirement investing accounts, including IRAs and 401(k) accounts as well as wealth management services. Investment products that can be purchased inside its accounts feature expense ratios as low as 0.02 percent and don’t charge commission on stock trading.
Tastytrade is a fintech company popular among options and futures traders. However, the company also appeals to people looking to save for retirement by providing various IRAs, including SEP and Beneficiary Roth IRAs. With Tastytrade, retirement investors can access futures, options, covered calls and other investment assets.
Public is a fintech company that offers a snappy and easy-to-use mobile investing app. It recently introduced Roth accounts onto its platform and other handy features like recurring contributions and investment plans, which enable people to routinely invest in pre-made or custom buckets containing up to 20 assets.
Empower is a financial services company offering wealth management solutions. These include advisory services, retirement planners and net worth calculators. On the product side, it offers IRA accounts and helps individuals roll over external retirement accounts into one location.
Betterment is an automated investing platform that provides IRA accounts. Its platform creates and curates investment portfolios based on investing strategies, company beliefs and asset types. It automatically rebalances to take full advantage of tax-loss harvesting and save on taxes. Additionally, betterment automatically reinvests dividends to help maximize returns.
Principal is a financial services company in the United States that offers retirement, investing and insurance products. In addition to providing IRAs, 401(k) and 403(b) accounts, it also focuses on retirement advising and helps individuals plan according to their circumstances and stage of life. For example, it provides an assessment that can tell people how much they must invest monthly to retire comfortably.
Acorns is a popular fintech company that aims to simplify retirement investing. Its account features automated contributions, and when linked to a user’s debit and credit cards, it can invest the spare change from every purchase and grow the account through micro-investments. Acorns is also among the few companies providing a contributions match, a feature typically reserved for employer-sponsored plans.
M1 is a venture-backed financial platform that offers brokerage and IRA accounts. Through its retirement accounts, individuals can trade various stocks, ETFs and mutual funds. Additionally, users gain access to advanced tools like dividend trackers to empower them in their financial journey.
