The Fidelity IRA

Opening an IRA could help you kickstart your retirement fund. Find out if a Traditional or Roth IRA is right for you.

Getting started with this tax-smart account

Let's face it: You're probably not going to want to work forever. And when you decide to retire, you'll need some cash to fund whatever it is you want to do next. Many people choose to put their savings in a tax-advantaged account called an IRA. Here's what you need to know.

There are a few kinds of IRAs out there

Traditional:

With this kind of IRA, you don't pay taxes on the money you put into the account, only the money you take out. Because savings grow tax-deferred, many people use Traditional IRAs to help reduce their taxable income. FYI: You could qualify for a tax deduction if you make an IRA contribution by Tax Day (April 15).

Roth:

With a Roth IRA, you pay taxes on your contributions upfront, which means your money can grow tax-free. Plus, you won't be taxed on withdrawals1, which can make a big difference if you find yourself in a higher tax bracket down the road.

Rollover:

If you have old 401(k)s from previous jobs, moving them to a Rollover IRA could help preserve your tax deferred growth potential. Plus, bringing your savings together to one place could help make managing your financial life a little easier.

Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.

WHICH IRA IS RIGHT FOR ME?

Traditional and Roth are two of the most popular types of IRAs. An important difference lies in whether you pay taxes now, or later. Answer a couple of questions, and we'll help you figure out which one to go with.

A smart way to supplement your savings

Because of their unique tax advantages, IRAs can be a great way to save on top of your 401(k) or other workplace savings. Tip: Consider setting up automatic, monthly contributions to make sure you're saving on a regular basis. Even if you put away just a little every month, it can make a big difference over time.

HOW MUCH CAN I CONTRIBUTE THIS YEAR?

Use our calculator to get a sense of how much you can sock away into an IRA this year, and how much of that contribution could be tax-deductible

Access to a wide range of investment options

With an IRA, you'll have access to a wide selection of investments, like stocks, bonds, mutual funds, and ETFs. Need help choosing investments? Our professionals can talk you through your options.

Here's what real customers have to say about our IRAs



No complaints
January 12, 2015

I transferred my old Roth IRA to Fidelity and so far, I have been very pleased. The costs are lower, I have more control, and everything is much more transparent.

-Seth C.



Couldn't ask for anything more
July 15, 2014

I was blown away by the level of support when answering questions about rolling over a 401k to a traditional IRA.

-benjamina



Simple and helpful
February 21, 2012

I started my IRA account when I started my first full-time job. Fidelity employees were helpful and explained this account very well. I plan on keep this account for many year to come.

-Emily10

1. A distribution from a Roth IRA is tax free and penalty free, provided the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, qualified first-time home purchase, or death.
All customer ratings and reviews are provided to Fidelity on a voluntary basis and are screened in accordance with the guidelines set forth in our Customer Ratings and Reviews Terms of Use . For additional information on which ratings and reviews may be posted, please refer to our Customer Ratings and Reviews Terms of Use. Featured Reviews have been selected based on subjective criteria and reviewed by Fidelity Investments. Ratings and reviews are added continuously to the website (after a delay for screening against guidelines) and average ratings are updated dynamically as reviews are added or removed.
The ratings and experience of customers may not be representative of the experiences of all customers or investors and is not indicative of future success. The accuracy of information included in the customer ratings and reviews cannot be guaranteed by Fidelity Investments. Customers who post ratings may be responsible for disclosing whether they have a financial interest or conflict in submitting a rating and review.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
Please contact a Fidelity representative if you have additional questions or concerns about the ratings and reviews posted here.
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