I've decided I want to begin investing a portion of my yearly Roth IRA contributions in high yield CDs. The best CDs I've found, however, don't offer IRA accounts. GMACBank.com, for example.

I thought someone had told me you could find IRA accounts that let you put the money pretty much anywhere you want, but I haven't seen anything.

Can anyone help?

Thanks.

Usually, your smaller, local banks that have IRAs allow a broader range of investment options (e.g., including real estate) than do the larger, national institutions that limit them to funds, stocks, bonds, etc.

You may also want to try a brokerage firm. They usually offer self-directed IRAs, wherein you can invest stocks, bonds , mutual funds and the whole bit. Some even allow non-traditional investments such as private placements, limited partnerships and real estate.

A reminder in these financially challenging times ~ not all CDs are created alike! Some are insured the by the federal gov, others are un-insured. High yielding accounts of all kinds (like high dividend stocks) should be given extra scrutiny because the market is suggesting there is some risk of loss that you may not be seeing.