Roth or Traditional IRA contribution and in what bank?

[Justin93]

it doesn't state, but is your 401k Trad or Roth? If your employer allows you to fund it in the roth, make sure thats what you are doing. In terms of your questions, follow the advice from above. Choose a good TDF (Target date fund) and let it work for you.

best of luck!

[Jazzzy]

I am also a fan of the Roth. I believe it gives much more flexibility. Sure...you pay taxes on your earnings now, before you invest it in the Roth, and that's why a lot of people stick with a regular IRA or 401k. They like the tax savings up front. But then they eventually end up paying taxes on not only what they initially invested, but on all the gain. Plus, they HAVE to start taking their money out at some point.

Right now Roth contributors do not have the requirement to start taking the money out at a certain age. I hope to never have to touch my Roth. I plan on leaving it to my children, and it is tax free to them as well. And, as another poster pointed out, you have until Apr 15 to contribute to a Roth for 2013, leaving you eligible to invest the full amount for 2014.