IRA Plans

Can you move your Roth IRA investment to a CD at your bank?

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Wiki User
2006-10-03 15:03:49

Yes you can. Open a Roth IRA CD at the bank. The bank will have

transfer papers so that you can transfer the funds from the Roth

custodian to the Bank. Having said that, a CD would be an extremely

poor long-term investment for a Roth. The purpose of the Roth IRA

is to allow the investor to have tax-free money at retirement. A CD

is traditionally one of the lowest performing investments over the

long-term. If you have at least 10 years until retirement speak

with an investment professional (or read investment articles on

conservative balanced portfolios.

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