| An IRA is your personal retirement plan, an | | | | Third, if you have a stock broker, he or she will be |
| INDIVIDUAL RETIREMENT ACCOUNT. This is not | | | | glad to work with you. Here you could have a |
| some type of investment, but rather a type of | | | | brokerage account set up as an IRA. Full service |
| account. Some accounts like joint accounts are | | | | brokers also offer mutual funds and other |
| taxable each year, as you earn interest or dividends. | | | | investments you can use to fund your IRA. |
| A traditional IRA offers tax write-offs and tax | | | | Fourth, discount brokerage firms offer IRAs also. |
| deferral. A Roth IRA is tax-free, with no write-off. | | | | With these accounts you can buy and sell stocks, |
| You can have several IRAs at different places, and | | | | bonds, ETF's and mutual funds online. |
| you can move your IRA money from one place to | | | | Fifth, financial planners will be happy to help you set |
| another without triggering taxes and penalties if you | | | | these account up, or to consolidate some of your |
| know the rules. Remember, IRAs are big business | | | | existing IRAs. |
| and lots of financial firms want your money. | | | | Sixth, no-load mutual fund companies do a ton of |
| Here are 6 ways to invest in an IRA. | | | | IRA business. The larger ones offer a broad array of |
| First, your local bank or credit union can set up an | | | | mutual funds to choose from, with no sales charges. |
| IRA for you. Most likely they will suggest you put | | | | The important thing to realize is that you can invest |
| your IRA money in a safe interest-paying investment | | | | in most conventional investments inside an IRA. You |
| like a CD or money market account. Perhaps they will | | | | can make changes inside your account without |
| have an investment representative on board who | | | | triggering a taxable event. For example, if you sell a |
| can offer you other alternatives. | | | | stock, your funds are simply transferred to your |
| Second, you might be comfortable working with | | | | cash account in your brokerage account. It is still in |
| someone you know quite well, like your insurance | | | | your IRA, so this transaction does not need to be |
| agent. Some of them offer IRAs. For example, you | | | | reported to the IRS. |
| can invest in an annuity IRA, where your money is | | | | When you remove money from your IRA, then you |
| invested in a tax-qualified annuity. | | | | report it. |