If you have nothing closer to investing experience than watching financial shows on TV, opening an IRA can seem intimidating. Fortunately, it’s fairly easy for beginners to start investing in an IRA, whether through a bank, brokerage or online.
For the 2017 tax year, you can open an IRA right up to the April 17, 2018, tax deadline. You have more than 15 months every tax year to get on board the IRA train.
First, you’ll need to choose between a Roth IRA and a traditional IRA. Once that is done and the account is opened, it’s on to the fun part: investing!
Here are six tips on how to open an IRA and start investing.