USAA IRA Review


USAA Roth IRA Fees, Traditional IRA, Rollover IRA, SEP IRA, 401K, SIMPLE IRA individual retirement accounts review, promotion offer, rating, fees and commissions. Is USAA IRA good and safe way to invest?



USAA IRA Commissions
ProductPricing
Stocks and ETFs $8.95 (an additional $0.01 is charged for each share of stocks priced under $1)
Stocks and ETFs broker assisted $50 (an additional $0.01 is charged for each share of stocks priced under $1)
Options $8.95 + $0.75 per contract
Mutual Funds $45
All Listed Corporate Bonds $25 + $3 per bond
U.S. Treasury Securities at Auction $45



USAA IRA Accounts Offered
  • Traditional IRA
  • Roth IRA
  • Rollover IRA
  • SEP IRA
  • SIMPLE IRA


USAA IRA Fees

  • IRA setup fee: $0
  • Annual IRA fee: $0
  • IRA Termination Fee: $20
  • Outbound Full Account Transfer: $0
  • Outbound Partial Account Transfer: $0


USAA IRA Review

United Services Automobile Association (USAA) is a privately owned Texas-based bank founded in 1922 that serves millions of military service-members and their families by offering competitive rates and services ranging from banking, brokerage, and insurance products. In recent years USAA has better developed their reputation as a trustworthy and reputable source for investment and retirement services like Individual Retirement Accounts (IRA).

There are several IRA types but the most common for individuals are Traditional and Roth IRAs. USAA can help you identify which option would apply best to you depending on your goals and financial situation. IRA rules and contribution limits as defined by the IRS apply equally across the entire financial industry but there are ways in which financial institutions can differ greatly from one another in this service: (1) IRA investment options, and (2) the fees they charge their members.

The single-largest advantage you gain by using USAA for your IRA is there are no annual fees for all IRA types. This makes USAA an attractive option, allowing you not to worry about your account balance getting quietly chipped away by the fees.


USAA IRA Options

Additionally, USAA provides a variety of investment options for your IRA:

USAA Mutual Funds – Right around 50 unique options in a variety of fund categories including Equity (primarily growth funds), Index (stock exchange indices), Taxable Bond, Tax-Exempt Bond, Money Market (lower interest, capital preservation funds), Asset Allocation (for one-stop diversification shopping), and Target Retirement Funds (based on your projected retirement date, adjusts the proportions and distribution of your investments across stocks and bonds).

Brokerage Account – You can purchase individual stocks, exchange traded funds (ETFs), bonds, and non-USAA mutual funds.

USAA Bank CD – A certificate of deposit (CD) is a savings account that holds a set amount of money returned to you with interest after a set period of time. This becomes a low-yielding, yet safe option for your IRA.

USAA Managed Portfolios – These are for multiple investment vehicles such as stocks, bonds, and mutual funds that are held in one account. A professional asset manager actively manages the portfolio by making the decisions to buy, sell, or hold various investments.

Annuities – An annuity is an insurance investment in which you pay funds now in order to secure a stream of income later, typically during retirement, which makes it a popular segment of your IRA.


USAA Website

On the USAA website members can access a quick five minute calculator to give members a quick idea of where they currently stand. There is also a much more in depth retirement planning device which gives a more detailed look at their retirement portfolio as well as suggestions on how to meet their goals. This planner takes about 20 minutes and it's a great feature available to all members. It takes into account all retirement vehicles, including the USAA Roth IRA. After plugging in the information you can see a pie chart of how you should be pursuing retirement investments based on your personal investment style.

The USAA website breaks down an IRA account into easy to read sections. There are sections for Positions, Activity, Balances, Order Status, Quotes, and Trading. The Positions tab will give the symbol, fund name and account number, quantity of shares owned, current price, and market value. It also lists total return and gains & loses. The Activity tab shows transactions on the account. The Balances tab breaks down into total market value, uncollected funds, available funds, capital gains YTD, dividends YTD, and a list of yearly contributions. Order Status gives the status of pending orders. The Quotes tab gives current quotes for any stocks, options, indices or mutual funds you’re interested in. There is also a feature to help you look up symbols based on a company name or partial name. The trading tab is for placing a trade and allows the user to buy, exchange, or add/change the financial institution.

Opening an IRA at USAA is very simple and takes only a few steps, along with the $500 minimum opening contribution. Money can then be deposited by the individual into the account or there is a feature to set up a regular contributions from a checking or other banking account. The website is configured with ease of use in mind and is user friendly. For any questions, email is available or customer service is only a phone call away and they are always friendly and helpful, some of the best in the business.


The Bad

There are some disadvantages specific to their services that are worth mentioning. Common to nearly every investment website are stock and mutual fund screeners, interactive chart data, detailed company information and summaries, as well as interactive retirement and investment calculators. Though USAA have made significant gains to improve these tools in recent years, overall, we would rate their tools and resources as average to slightly below-average.

The stock and mutual fund screeners are simple to use but a little user-unfriendly if trying to make quick modifications or corrections to your search criteria. The interactive charts provide good information but lack the substance for you to gain a quick and concise understanding of the company or product you are examining. It seems all the right content is there for you to use but the overall feel of the resources would be best described as slightly disorganized.




The Good

One feature of their stock screener we like the most is the 52-Week Range, which shows you the price range over the last 52 weeks and where the current price is in relation to the high and low price.

Overall, customers are getting an IRA account without hidden or overtly listed annual fees. USAA does make it very easy to set up automatic investing from client's checking and/or savings account to help create a steady flow of money into IRA. Apart from the investment section of their website, nearly every other aspect of their site is incredibly easy to use and understand.




Conclusion

Housing no-fee IRA with USAA is a worthwhile move, saving you more money in the long-term. Research tools, though not always incredibly convenient and easy to operate, are still operable but can always be augmented by using the tools of other financial institutions.


Open USAA IRA Account



Article was updated on 2/7/2017.




USAA reviewed by IRA-Reviews.com on . Rating: 3
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