<prompt> Human: I recently graduated from a university and am working my first full time job. I dont have too much knowledge about personal finances but would like to open a Roth IRA and have a few questions hopefully you can help me answer!What are the differences between using an online broker and an established larger bank?I am leaning towards using an online broker but am a little skeptical. Where do they acquire the money being put into my account? If their profits are derived from customers trying to grow their money how does that help me?Coming across sites like this, I am having trouble deciding which online broker would be most suitable solely for opening a Roth IRA:Maybe you would care to share your adviceinsights?How often does it collect interest? Monthly, quarterly, annually? In other words, should I deposit the 5k maximum at the beginning of each year or make regular contributions throughout?Where does the money go while its in my account? Do I choose specifically where my money is invested or is that up to the bankbroker its with?Any other tips would be appreciated, thanks!  <response>: I cant really give you any legitimate, well-researched advice, being a financial and IRA newbie myself, but I can tell you what I did:I slapped 5k in a Vanguard target fund. Im 24 and ended up going with target 2050 but if youre my age or younger, target 2055 is probably the way to go for those.If you want to spend more time managing it, then you could branch out into other funds... but I am absolutely the wrong person to give advice there. 