IRA ideas anyone?

I currently have an IRA with a local credit union, yielding only 4.75%. I'm currently 55 years old. What are some possible ways to get a better return on my IRA investment?

Actually, 4.75% isn't so bad, considering it's totally safe and hopefully insured. Before deciding on where to move the money, though, you need to review your entire portfolio, both retirement and non-retirement. There should be diversification throughout your investments. What I try to do is keep my biggest "tax hit" investments (like bonds and cash) in my tax deferred accounts, and buy my tax advantaged stuff in my regular portfolio (index funds and the like).

So, I guess my answer to you is to go to a site like Fidelity.com, Schwab.com, etc. and go through their retirement planning questionnaire. It might give you some ideas how to best choose investments for your individual financial situation.

Good luck!

Before you start looking for a better return please share with us when you plan to retire. If it is soon then the 4.75% is not bad. If you have a 10 year time horizon you can structure an asset allocation that is conservative. Maybe a Vanguard Target fund 2015 which is structured to automatically allocate investment based on time horizon. Better off leaving the asset allocation to the pros. Good luck.