Updated 10/19/25
by: Scott

Best Retirement Investing Brokers in Your 50s

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Best Retirement Investing Brokers in Your 50s

Self directed retirement accounts allow you to keep more of your money vs paying for advisor fees. We’ve ranked here the best retirement investing brokers from 1 to 7. If you prefer to pay for advisor fees, consider the best robo advisors for your 50s.

Vanguard Review

Vanguard is a top choice for 50+ savers seeking low-cost retirement investing, due to its industry-leading access to low-cost funds (80%+ with expense ratios <0.20%, like VTI at 0.03%) and zero account or trading fees. Its excellent reputation, built on decades of investor trust, pairs with robust tools like the retirement nest egg calculator and RMD tool, ideal for conservative portfolio building. While it lacks fractional shares and rollover matches, its solid app ratings (4.7 iOS/4.2 Android) ensure reliable mobile access. Vanguard is perfect for those prioritizing minimal costs and dependable retirement planning.

Fidelity Review

Fidelity shines for 50+ self-directed investors, offering strong access to low-cost funds (60% <0.20%, including 4 zero-expense funds) and no account or trading fees. Its excellent reputation and top-tier tools, like the retirement score calculator and Social Security optimizer, cater to late starters. Fractional shares support small-account diversification, and high app ratings (4.8 iOS/4.6 Android) ensure usability. Despite no rollover match, Fidelity’s $600 bonus and comprehensive 50+ resources make it a strong contender for building diversified retirement portfolios.

Charles Schwab Review

Charles Schwab, blends strong access to low-cost funds (65% <0.20%, like SCHB at 0.03%) with zero fees and commissions. Its excellent reputation and extensive 50+ tools, including an RMD calculator and income planner, make it ideal for retirement planning. Fractional shares (S&P 500 via Stock Slices) aid small accounts, but a low Android app rating (2.5 vs. 4.8 iOS) may hinder mobile use. With no rollover match but up to $3,000 in bonuses, Schwab is great for savers seeking robust tools and low costs.

Merrill Review

Merrill Edge offers strong access to low-cost funds (50% <0.20%) and no account or trading fees, complemented by a $600 rollover match. Its very good reputation and 50+ tools, like tax estimators and banking integration, suit those consolidating finances. Solid app ratings (4.7 iOS/4.3 Android) ensure accessibility, but the lack of fractional shares limits small-dollar diversification. Merrill Edge is a solid pick for 50+ savers valuing banking synergy and incentives alongside low-cost investing.

SoFi Review

SoFi appeals to 50+ beginners with decent access to low-cost funds (40% <0.20%), no account fees, and a $10 investing minimum. Its 1% rollover match and fractional shares support small accounts, while CFP access and goal trackers aid retirement planning. Good app ratings (4.8 iOS/4.1 Android) and a moderate reputation as a discount broker make it user-friendly, though it offers fewer low-cost funds than traditional brokers. SoFi is ideal for those starting small with integrated banking needs.

T. Rowe Price Review

T. Rowe Price offering strong 50+ tools like portfolio analyzers and RMD calculators, but its poor access to low-cost funds (20% <0.20%, e.g., Retirement 2025 at 0.55%) and $20/year small account fee (for balances <$10K) reduce appeal. No fractional shares or rollover match, plus $2,500 fund minimums, hinder small accounts. Its very good reputation and decent app ratings (4.6 iOS/4.0 Android) suit active investors, but it’s less ideal for cost-focused 50+ savers.

Robinhood Review

Robinhood, provides decent access to low-cost funds (40% <0.20%) and no account fees (without Gold), plus a 1%–3% rollover match (up to $630). Fractional shares enable diversification, but the $5/month Gold fee for the 3% match and a poor reputation due to limited tools and past issues are drawbacks. Basic 50+ trackers and moderate app ratings (4.2 iOS/4.1 Android) suit simple strategies. Robinhood is best for cost-conscious savers who value matches but can navigate its limitations.

Best Retirement Investing Broker for 2025 Comparison

Broker	Access to Low Cost Funds	Fees	Fractional Shares	Support/Tools	App Ratings	Reputation
Vanguard	Over 80% of funds and ETFs have expense ratios below 0.20% (e.g., VTI at 0.03%), ideal for 50+ savers maximizing retirement growth with low-cost index and target-date funds.	No account fees or stock/ETF commissions ensure no cost barriers for 50+ savers starting small.	No support for fractional shares, limiting small-dollar stock/ETF diversification for 50+ savers with modest funds.	Comprehensive retirement calculators (e.g., nest egg, RMD), Social Security guides, and planning checklists for 50+ active strategies and early retirement scenarios.	Ratings of 4.7 iOS and 4.2 Android offer reliable mobile access for 50+ retirement planning, though not top-tier.	Top-ranked in J.D. Power 2025 for investor trust, perfect for 50+ savers seeking a reliable platform.
Fidelity	About 60% of funds and ETFs have expense ratios below 0.20% (e.g., FZROX at 0.0%), providing strong low-cost options for 50+ savers building diversified portfolios.	No account fees or commissions make it cost-free for 50+ savers to manage retirement accounts.	Fractional shares with a $5 minimum enable 50+ savers to diversify with small investments.	Industry-leading tools including retirement score calculator, Social Security optimizer, RMD estimator, and 50+ webinars for income planning and tax strategies.	Ratings of 4.8 iOS and 4.6 Android ensure excellent mobile usability for 50+ retirement management.	Highly ranked in J.D. Power 2025, trusted for 50+ savers needing dependable platforms.
Charles Schwab	Around 65% of funds and ETFs have expense ratios below 0.20% (e.g., SCHB at 0.03%), offering robust low-cost choices for 50+ savers focused on long-term growth.	No account fees or commissions support cost-effective retirement investing for 50+ savers.	Fractional shares for S&P 500 stocks with a $5 minimum aid 50+ savers with limited funds.	Robust resources like RMD/income calculators, Social Security optimizer, retirement planners, and age-specific guides for 50+ catch-up contributions and withdrawal strategies.	Rating of 4.8 iOS but 2.5 Android may hinder mobile experience for some 50+ savers.	Top J.D. Power 2025 ranking ensures trust for 50+ savers seeking a reliable broker.
Merrill Edge	Roughly 50% of ETFs have expense ratios below 0.20% (e.g., BofA-selected ETFs at 0.03%), solid for 50+ savers seeking low-cost retirement options.	No account fees or commissions make it accessible for 50+ savers starting retirement accounts.	No fractional shares, restricting small-dollar diversification for 50+ savers.	Solid calculators (e.g., retirement, Roth conversion, RMD) with banking integration for holistic 50+ planning, including tax estimators and webinars.	Ratings of 4.7 iOS and 4.3 Android provide reliable mobile access for 50+ savers.	Strong reputation, trusted but slightly below top-tier brokers for 50+ savers.
SoFi	About 40% of ETFs have expense ratios below 0.20% (e.g., VOO at 0.03%), decent but limited low-cost options for 50+ savers compared to traditional brokers.	No account fees or commissions, with a $10 minimum to invest, slightly less flexible for 50+ savers starting small.	Fractional shares with a $5 minimum help 50+ savers diversify with modest funds.	Basic calculators and goal trackers for retirement planning, with CFP access and articles on catch-up contributions for 50+ savers.	Ratings of 4.8 iOS and 4.1 Android ensure user-friendly mobile access for 50+ savers.	Good reputation as a discount broker, but newer in retirement accounts for 50+ savers.
T. Rowe Price	Only 20% of funds have expense ratios below 0.20% (e.g., Retirement 2025 at 0.55%), less ideal for 50+ savers seeking low-cost retirement funds.	$20/year small account fee (for balances <$10K) and $2,500 fund minimums hinder 50+ savers with small portfolios.	No fractional shares, limiting diversification for 50+ savers starting small.	Strong active-focused tools like portfolio analyzer, RMD calculator, Social Security optimization, and educational resources for 50+ active management.	Ratings of 4.6 iOS and 4.0 Android offer reliable mobile access for 50+ savers.	Strong reputation for active management, appealing to 50+ savers preferring active funds.
Robinhood	Around 40% of ETFs have expense ratios below 0.20% (e.g., SPY at 0.09%), adequate but fewer low-cost options for 50+ savers than traditional brokers.	No account fees or commissions, but $5/month Gold fee for 3% match adds cost for 50+ savers.	Fractional shares with a $5 minimum support 50+ savers with small investments.	Basic retirement trackers and planners focused on catch-up contributions, with limited educational resources for 50+ savers.	Ratings of 4.2 iOS and 4.1 Android are functional but not top-tier for 50+ savers.	Limited reputation due to basic tools and past regulatory issues, a concern for 50+ savers.

Best Retirement Investing Brokers in Your 50s by Category

Best Retirement Investing Brokers for Access to Low Cost Funds

(Proportion of funds/ETFs with expense ratios <0.20%):

1. Vanguard – Over 80% of funds/ETFs below 0.20% (e.g., VTI at 0.03%), ideal for 50+ savers maximizing retirement growth with low-cost index and target-date funds.
2. Fidelity – About 60% of funds/ETFs below 0.20% (e.g., FZROX at 0.0%), strong for 50+ savers building diversified portfolios.
3. Charles Schwab – Around 65% of funds/ETFs below 0.20% (e.g., SCHB at 0.03%), robust for 50+ savers focused on long-term growth.
4. Merrill Edge – Roughly 50% of ETFs below 0.20% (e.g., BofA-selected ETFs at 0.03%), solid for 50+ savers seeking low-cost options.
5. SoFi – About 40% of ETFs below 0.20% (e.g., VOO at 0.03%), decent but limited for 50+ savers compared to traditional brokers.
6. Robinhood – Around 40% of ETFs below 0.20% (e.g., SPY at 0.09%), adequate but fewer options for 50+ savers.
7. T. Rowe Price – Only 20% of funds below 0.20% (e.g., Retirement 2025 at 0.55%), less ideal for 50+ savers seeking low-cost funds.

Best Retirement Investing Brokers for Fees

(Account fees, commissions, minimums):

1. Vanguard – No account fees or stock/ETF commissions, ensuring no cost barriers for 50+ savers starting small.
2. Fidelity – No account fees or commissions, cost-free for 50+ savers managing retirement accounts.
3. Charles Schwab – No account fees or commissions, supporting cost-effective retirement investing for 50+ savers.
4. Merrill Edge – No account fees or commissions, accessible for 50+ savers starting retirement accounts.
5. SoFi – No account fees or commissions, but $10 minimum to invest is slightly less flexible for 50+ savers.
6. Robinhood – No account fees or commissions, but $5/month Gold fee for enhanced features adds cost for 50+ savers.
7. T. Rowe Price – $20/year small account fee (for balances <$10K) and $2,500 fund minimums hinder 50+ savers with small portfolios.

Best Retirement Investing Brokers for Fractional Shares

(Support for dollar-based partial stock/ETF purchases):

1. Fidelity – Fractional shares with a $5 minimum, enabling 50+ savers to diversify with small investments.
2. Charles Schwab – Fractional shares for S&P 500 stocks with a $5 minimum, aiding 50+ savers with limited funds.
3. SoFi – Fractional shares with a $5 minimum, helping 50+ savers diversify with modest funds.
4. Robinhood – Fractional shares with a $5 minimum, supporting 50+ savers with small investments.
5. Vanguard – No fractional shares, limiting small-dollar diversification for 50+ savers.
6. Merrill Edge – No fractional shares, restricting small-dollar diversification for 50+ savers.
7. T. Rowe Price – No fractional shares, limiting diversification for 50+ savers starting small.

Best Retirement Investing Brokers for Support/Tools

(Retirement-specific support, education, and tools for 50+ savers):

1. Fidelity – Industry-leading tools including retirement score calculator, Social Security optimizer, RMD estimator, and 50+ webinars for income planning and tax strategies.
2. Charles Schwab – Robust resources like RMD/income calculators, Social Security optimizer, retirement planners, and age-specific guides for 50+ catch-up contributions and withdrawals.
3. Merrill Edge – Solid calculators (e.g., retirement, Roth conversion, RMD) with banking integration for holistic 50+ planning, including tax estimators and webinars.
4. T. Rowe Price – Strong active-focused tools like portfolio analyzer, RMD calculator, Social Security optimization, and educational resources for 50+ active management.
5. Vanguard – Comprehensive retirement calculators (e.g., nest egg, RMD), Social Security guides, and planning checklists for 50+ active strategies and early retirement.
6. SoFi – Basic calculators and goal trackers for retirement planning, with CFP access and articles on catch-up contributions for 50+ savers.
7. Robinhood – Basic retirement trackers and planners focused on catch-up contributions, with limited educational resources for 50+ savers.

Conclusion: Best Retirement Investing Brokers for 50+ Savers

For individuals in their 50s looking to catch up or start from scratch on retirement savings, selecting from the best retirement investing brokers is crucial to maximize growth and minimize costs. Vanguard leads with its unmatched access to low-cost funds and top-tier reputation, ideal for conservative portfolios, while Fidelity excels with robust tools like retirement score calculators and fractional shares, perfect for diversified strategies. Charles Schwab offers similar strengths with strong planning resources, and Merrill Edge adds banking integration for holistic financial management. SoFi and Robinhood cater to beginners with fractional shares and low minimums, though Robinhood’s limited reputation and tools are drawbacks. T. Rowe Price suits active investors but lags in cost efficiency.

Call to Action

Open an IRA or consolidate 401(k)s with one of these brokers, leverage 2025 catch-up contributions ($8,000 for IRAs, $30,500 for 401(k)s), and use their tools to plan RMDs and Social Security—start building your nest egg today to secure your financial future! Not sure where to find the money. Start a budget today and free up cash for your future.

Methodology for Evaluating Retirement Investing Brokers for 50+ Savers

To identify the best retirement investing brokers for individuals in their 50s starting or catching up on retirement savings, we evaluated seven platforms (Vanguard, Fidelity Investments, Charles Schwab, Merrill Edge, SoFi, Robinhood, T. Rowe Price) offering self-directed Traditional IRAs, Roth IRAs, rollover IRAs, and 401(k) rollovers. Each broker was assessed across six categories weighted for relevance to 50+ savers: Access to Low Cost Funds (25%), based on the proportion of funds/ETFs with expense ratios below 0.20%; Fees (25%), evaluating account fees, commissions, and minimums; Fractional Shares (15%), assessing support for small-dollar diversification; Support/Tools (5%), reviewing retirement-specific calculators, education, and planning resources; App Ratings (5%), normalized from iOS/Android averages; and Reputation (20%), based on J.D. Power 2025 rankings and trust metrics. Scores were assigned (Excellent=4, Very Good=3, Good=2, Poor=1 for categorical; Yes=1, No=0 for Fractional Shares; 0–4 for App Ratings) and weighted to calculate total scores, ensuring a focus on cost efficiency, usability, and retirement planning support. Data was sourced from 2025 industry reports (e.g., Investopedia, NerdWallet, Bankrate) as of October 19, 2025.