I want to set up some mutual funds as IRA's. Are there particular types of mutual funds that are not suited for IRA accounts?

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Mary Sutton

Mary,
There are some "tax efficient" funds and tax-free funds that are not appropriate.

You may want to scan the current Consumer Reports which lists around 100 funds that have been successful. While financial analysis is not that magazines specialty, they can give you a useful short list to study.

Almost any of the 7,000 to 8,000 mutual funds out there will be more than happy to help you set up your IRA. You can choose to open one at each different fund or find a Custodian who can hold many funds for you in one IRA. I would recommend though that you seek the assistance of a financial professional - a Certified Financial Planner or the like can help you analyse your goals and objectives and your risk tolerance and then help you sort through the many funds available. For more info on funds, here is one site I like to visit:
http://www.fundspot.com/main.shtml
And, of course, I would love to help you set up an IRA if you would like.