Q:Does it matter with whom you set up a roth ira? Is it basically the same deal going with a large bank as it would be if you set it up through a credit union?

msmollyhoye

As far as the IRS is concerned, there’s no difference.  But, financial institutions all have different fees and commission schedules.  Online brokerages like Etrade, TD Ameritrade, or Charles Schwab tend to offer accounts with no annual fee and low commissions.

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  1. ericgolub said: @msmollyhoye, Yes, it also matters depending on what you wish to invest in, in that Roth IRA. Most IRA administrators won’t allow real estate, or gold bullion, even though the IRS says they’re okay. But ‘self-directed’ IRA administrators do.
  2. moneyisnotimportant posted this