 TITLE: How to Open an IRA in 3 Easy Steps CONTENT: 2\\. Choose an IRA Provider\n--------------------------\nYou can open an IRA with many types of financial institutions, including banks, credit unions, investment brokerages and mutual fund providers. You can choose from these four basic options:\n*   **Savings:** Banks and credit unions typically offer IRAs that keep your money in savings or certificates of deposit. The downside is that these accounts will appreciate slowly. The upside: little to no risk. A bank or credit union may also offer investment-based IRAs, including some options listed below.\n*   **Self-managed investments:** Open an investment or mutual fund account and manage your own investments. You may save money in management fees, but beware that fluctuations in the market and constantly changing opportunities aren't easy for an amateur investor to track.\n*   **Automated** **robo-advisor** **accounts:** Although the term \"robo-advisor\" may sound weirdly futuristic, the process of engaging one is straightforward. You provide information about your risk tolerance, life stage and goals, and the robo-advisor uses complex algorithms to create and manage your investments. You don't get much human interaction or hand-holding, but you will save a few dollars on management fees while still having an active \"eye\" on your investments.\n*   **Professionally managed investments:** There's no doubt that having a live human advisor who can answer your questions, discuss goals and strategies, and actively manage your investments is a great benefit. Finding the right advisor can be a bit of a challenge, however. Be prepared to pay higher fees in exchange for personalized advice. Also, scrutinize any candidate carefully before turning over your money. Be sure you know upfront how fees are structured (flat fee vs. commissions) and how much you should expect to pay. END