Online Brokerage Starter
Take control of your investing.
Fidelity
FREEBest for seniors. No fees. Real customer service phone.
Best overall.
Charles Schwab
FREETied with Fidelity. Branches nationwide.
Best with branches.
Vanguard
FREELowest-cost index funds. Simple website.
Best index funds.
TD Ameritrade (Schwab)
FREENow part of Schwab. Same access.
Best for traders.
Robinhood
FREESimple app — but bare bones support.
Best mobile.
Senior-friendly choices
- Fidelity = best overall. Free. Real phone support. Great for seniors.
- Schwab = comparable. Has physical branches.
- Vanguard = simple. Lowest fund costs.
- All 3 = stock trades FREE.
- All 3 = thousands of mutual funds + ETFs.
- Avoid app-only brokerages without phone support.
What account to open
- Brokerage — taxable. Fully flexible.
- Roth IRA — tax-free growth (income limits).
- Traditional IRA — tax-deferred (RMDs at 73).
- Rollover IRA — for old 401(k)s.
- Don't have to choose 1 — open multiple.
Simple senior portfolio
- 50-60% bonds (stability) — VTBLX, FXNAX.
- 30-40% US stocks — VTI, FZROX.
- 10% international stocks — VXUS, FZILX.
- Or: ONE target-date retirement fund — auto-balances.
- Boring is good. Don't day-trade.
- Rebalance annually.
Open account safely
- Type fidelity.com (or schwab.com) directly — never through email.
- Strong unique password.
- 2-factor authentication ON.
- Link bank account via direct connection.
- SIPC protected up to $500K.
- Add trusted contact (POA) — they can't trade but can verify identity.
Free advisor option
Fidelity + Schwab offer FREE consultations with advisors over $25K balance. Help with retirement planning, RMDs, withdrawal strategy. No commission — they're salaried. Better than fee-based advisor for most seniors. Vanguard PAS = 0.30% for managed account if want hands-off.