Expert: Allen - 9/19/2006

Question
Hi,
Thanks for the answer for the last question.  You were a big help.  Now I am looking for a bank that does the Simple IRA that uses CDs or moneymarket.  I have not even been able to find a bank that does the Simple IRA.  Even on the investment management side I thought I had found one that did the moneymarket and had private insurance on the money, but they no longer do it.  Do you know of any banks that have the Somple IRA or any investment service that does have insured investment into a moneymarket fund.  What I want is only an annual charge without additional charges on trades, buy and sell, etc. that will not go below what is put into the account.

Answer
I can't give you any names since I don't work in this area.

Some suggestions:
1. Google bank simple ira
2. Check with low cost stock brokers - Schwab, ETrade or TD Ameritrade.
3. Go to a low fee mutual fund company - Vanguard, T Rowe Price or Fidelity. I don't think they offer CDs but they will offer very safe (but not government insured) money market funds.

Good luck.