Two decisions, in this order: Roth or Traditional first, then where to open it. Getting the second right while fumbling the first costs you for decades.

- Roth: pay tax now, never again on qualified withdrawals; suits younger, lower-bracket earners - Traditional: deduction now, taxes later; suits higher earners wanting the break this year - Filter for zero IRA annual fee and zero account minimum; an IRA should cost nothing to keep open - Check fractional shares inside the IRA for monthly contributions - Fund it, then invest it: an uninvested Roth is a savings account with extra steps

BrokerMatch ($2.99 one-time) ranks brokers on IRA fees and minimums, so your first retirement account opens clean.