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Originally Posted by poundwise
Isn't it foolish to open an IRA through a stock-broker like Scottrade?
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Well, it depends on what you want to invest your money in. If you want to buy individual stocks or ETFs, than a discount broker is a reasonable way to go. If, however, you prefer mutual funds, then you are probably better off opening the account with the fund company directly.
Also keep in mind that you can have multiple IRA accounts in different places as long as your total annual contribution doesn't exceed the limit.