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Financial Planning / Foolish 401(k)s


Subject:  Re: ROTH IRA Date:  9/19/2011  4:37 PM
Author:  pauleckler Number:  24742 of 26116

You may open a Roth IRA at any custodian you choose. If you want to invest in stocks, a discount broker is the usual choice. I use Fidelity, but there are lots to choose from. Scottrade. etrade. TD Ameritrade. Check out the Discount Brokers board for the most recent details.

Pick the one 1) with the lowest fees for the services you plan to use and 2) most convenient, best service, etc that fits your needs.

But you can also establish a Roth at a mutual fund company (where you can do stock mutual funds but also bond funds or other mutual fund investments). You will also find Roth accounts offered at banks, credit unions and sometimes financial services companies. But watch out for those who would put you into annuities. And the low interest rates offered by banks and credit unions may not be appealing.

That is the power of the IRA/Roth IRA. You are in charge. You can make your own choices according to your needs or investment goals.
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