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Greetings, Kivimaki, and welcome. You asked:

<<I have heard that a Roth IRA can be started at banks.
Where is the places where this can be started?
My wife and I are in our early 50's. I have a retirement plan at work but she doesn't. We are looking
at putting between $300-$400/month into this IRA.
What will the return be if we invest this money monthly
for the next 12-13 years?>>

For a complete description of IRAs (to include the Roth IRA), see our Foolish IRA area at,

Think of an IRA as a bucket that holds investments of various kinds. It isn't the investment itself. Instead, it's the container that keeps your earnings sheltered from taxes. An IRA is simply a tool to help you avoid income taxes on earnings (and sometimes on your contributions, too) until you begin withdrawing money many years hence. Because an IRA just holds your investment, you are free to invest in a broad array of securities that are held in the account by a custodian. The custodian may be a bank, a broker, a mutual fund or an insurance company. If you want to trade stocks yourself (and how utterly Foolish of you if you do!), you will want to establish your IRA with a broker in something called a self-directed account. With this arrangement, you may deposit up to $2K per year in cash, and then tell the broker when and what shares to trade within that account. But you are not limited to just stocks. If desired, you can also trade in bonds, T-Bills, mutual funds, and notes. Indeed, you may trade in virtually every security offered by the broker.


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