[Shannon]

I would like to open a Roth IRA for my stepdaughter who is just starting her first job. What is the VTSAX equivalent for Schwab?

Any advice on which to go with, Vanguard or Schwab?

Or a better fund? She is 15, so I just want it to have optimal opportunity for growth.

Anything else I need to know?

[Christopher]

VTI would work at Schwab, if you don’t want to sort out Schwab’s funds

[Michael]

Vanguard, Schwab and Fidelity are going to all be pretty much equivalent for a Roth IRA with good access to low cost index funds. SWTSX is the Schwab flavor of a Total US Stock fund.

For a 15 year old, stuffing money into a Total Stock index is perfectly acceptable.

With that kind of runway, savings rate and just time in the market does all the heavy lifting.

[Cody]

If I were getting started, I wouldn’t open the Roth IRA at Schwab.

I’d open it at Fidelity or Vanguard and buy VTI (or VT).

[Matt]

This is for a 15 year old… Fidelity Youth Account is best banking/ savings/ non- custodial brokerage account for teens.

Another reason she should be at Fidelity. Fee-free.

Adult-grade HYSA-like “interest” via SPAXX. Mobile check deposit.

Fee free Debit/ATM card, multiple account sub-buckets, etc.

[Gee]

Just go VTI which is the ETF equivalent for VTSAX directly.
Also, I recommend Fidelity.

Schwab does not allow partial shares as Fidelity does.

[Author]

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