Roth IRA interest rate;

[Guest bm1stock]

Will be funding a Roth IRA for the year 2002. I am not sure if a local saving bank ( TCF ) would be a good place to place this account. I would also like some info. on a good rate of interest on this type of account.

thank-you

[Appleby]

bm1stock,

Welcome to benefitslink.com.

Your choice of financial institution may be determined by your investment needs. The following links may help to answer your question.

http://benefitslink.com/boards/index.php?showtopic=3436

http://benefitslink.com/boards/index.php?showtopic=16304

[John G]

Roth investments that only earn interest may be poorly placed, especially if you are tying up the money at todays very low rates. To give you a better answer requires some information on: your age, your investment knowledge, how many years before you retire, marital status, approx income tax bracket, your retirement goals, if you have any other retirement options besides SSN, time you want to spend on making investment decisions and your attitudes about risk / reward.

There is a real range of answers and one style of investing doesn't work for everyone.

No matter where you start, you always have the option to transfering your assets to another custodian at some future time.