Roth IRAs are great if you're not currently making a high income and are thus in a low tax bracket because you're forgoing a tax deduction now for one in the future. Another thing to remember is that because contributions can be withdrawn at any time without penalty (except the opportunity cost of not being able to replenish that specific contribution unless you can do it in 60 days) Roth IRAs can be used as a potential source of emergency funds if need be. When I was younger and had less access to multiple sources of income/credit, I used my Roth as my psychic buffer of an emergency fund rather than having too much cash sitting around. I never touched it but I knew I could if I needed to.
As you are beginning your investing process now, it is a good time to think about
*What asset allocation do you want?
* What other cash resources/credit lines do you have for emergencies? Are you considering a portion of your Roth to be your emergency fund?
*What to keep in a tax advantaged fund (like a Roth IRA)? For instance, something like an REIT (Real Estate Investment Trust) are better kept in a tax-advantaged account. You may not be planning on investing anything in a non-tax advantaged account yet, so this might not be an issue yet, but it should at least be something in your mind down the road.
Due to various employer accounts over the years, I've had funds with Fidelity, TIAA-CREF, ING, Trans-America, Banc of America, Merrill-Lynch etc. and I always voluntarily put my money in Vanguard and roll-over funds there whenever I get the chance. The fees are usually lower, the analytics are useful and I've used them for 15 years--since my first IRA contribution when I was your age!-- without a single cause for complaint.
