*The Commerce Journal>>>Personal Finance

Best place to get an ira?

would a traditional bank or credit union be the best place for an ira? i used to work at a bank for a little less than a year and i need to roll over the assets into an ira elsewhere. are the rates pretty much the same?

Since an IRA is money intended for your retirement, meaning the investment is very long-term, then my answer would be "neither".

Open an account directly with one of the major, reputable mutual fund companies such as Vanguard or Fidelity, and pick a sensible, long-term choice such as Vanguard's Windsor II fund or an index fund such as the S&P 500 fund; or perhaps a target retirement fund (Fidelity 2030 or the like).

http://www.vanguard.com
http://www.fidelity.com

If you insist on the safety of CDs or the like, that's understandable, but just remember that you are investing over the long term, and CD rates won't necessarily even keep up with inflation over that period. The difference between the average CD rate and the average return on large-cap stocks can be surprising once it is compounded over 10,20, or 30 years.

But if you insist, then for best rates on CDs and money markets, check with a site like

http://www.bankrate.com

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