Hello and

welcome to Moneygirls quick and dirty tips for a richer life.

Today's topic, how to choose an IRA custodian.

In last week's episode I explained how to roll over your 401k to an IRA when you leave a job.

In today's episode I have some tips on how to choose an

IRA custodian. It's possible to open an IRA at many different types of

financial institutions,

including brokerages, mutual fund companies, banks,

credit unions, insurance companies, and self-directed IRA

custodians.

Having so many choices can be overwhelming.

As listener Joshua put it in an email he sent me,

when you're in a situation where you want to start your retirement savings

and you have no idea whether you'd be better off just giving the money to the bank,

giving it to a mutual fund company, or some other institution,

it is so daunting that you just don't do anything.

Now don't let the abundance of choices keep you from taking action.

Remember, delay has a cost. During the time you spend in a state of indecision about where to open an IRA, your money could

have been growing for you.

So here are four tips on how to make a smart choice about which IRA custodian to go with.

Tip one.

Choose an IRA custodian with a broad selection of investment options,

...