Where can I open an IRA?

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An IRA is essentially just a type of account, and you can open one at a wide variety of financial firms. Where you open your IRA(s) depends on what types of investments you wish to purchase:

  • banks & credit unions - for CDs and interest-bearing money-market and savings accounts
  • brokerage firms - for stocks, bonds, mutual funds and other securities
  • mutual fund companies - for mutual funds
  • insurance companies - for annuities