Date: Thu, 16 Oct 2003 20:08:24 CST
From: mark0young@aol.com (Mark0Young)
Newsgroups: misc.invest.financial-plan
Subject: Re: Roth IRA
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In article <3f875e52$1@news.xetron.com>, "John Thompson"
 writes:

>Basically, who should I have start up my Roth IRA and why?

Start with your investment plan. Then consider what investments you have
available in your employer sponsored plan, etc., and what you would need in
your Roth IRA to help round it out. 

Once you decide what investment to hold in the Roth IRA account, pick the best
custodian for that investment. For example, if you wish to hold a money market
account or a money market fund in the Roth IRA (e.g., you are temporarily using
your Roth IRA as double duty as your emergency fund as well as your retirement
account), a Roth IRA at a credit union or even a bank may make sense, and then
move the Roth IRA when it no longer serves double duty. If you wish to hold
individual securities in the Roth IRA, a discount broker makes sense. If you
wish to hold funds from a specific fund family, that fund family may be able to
be your Roth IRA custodian. If you wish to hold mutual funds from a variety of
fund families, take a look at Scottrade.

Mark A. Young