Speak to brokers at several different investment firms. Find one you feel comfortable working with. Just remember that brokers are paid by commission, not salary. Their loyalty is first to themselves and secondly to their investment firm. You are number three.
At the very least they should ask you about your appetite for risk, whether you expect to increase your income over the next few years, and your tax bracket. They should be willing to spend at least 35 to 40 minutes asking you questions to learn about your financial life. They should also offer several options, not just specific stocks, bonds, or mutual funds. Some stocks, bonds or mutual funds pay the brokers higher commissions than other investments. If they push specific investments, find a different broker.
Once you find a broker and an investment firm you?re comfortable with, they will give you a paper to sign. They will handle the rollover for you.
If you plan on frequent purchases or sales within your IRA, I suggest reading a primer on investing. ?Investing for Dummies? 4th edition by Eric Tyson is an excellent starting point. Please don?t be offended by the name. ?For Dummies? is a publishing company.
Generally the higher the risk of an investment, the higher the reward. The lower the risk, the lower the return on investment.
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