Getting Started: Opening and Investing Your IRA
Most financial institutions that sell investment vehicles like mutual funds and bank accounts provide IRA accounts to hold the investments in. The most common are banks and credit unions, mutual fund companies, insurance companies, and brokerage firms.
An asset allocation plan works like an investment recipe for all your accounts. It dictates the percentage of your portfolio you’ll invest in each asset class, such as stocks, bonds, and cash. How much of each class to target is determined by factors such as your age, your risk tolerance, and your investment goals.
Each type of financial institution ...