COLLECTION: RETIREMENT PLANNING

IRA's are like relationships.
You want to find one that will last a lifetime.

Learn about the differences between traditional and roth IRAs and check out this infographic to see which one is right for you.

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Topics:
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  • Saving for Retirement
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1. A distribution from a Roth IRA is federally tax-free and penalty-free provided that the five-year aging requirement has been satisfied and one of the following conditions is met: age 59 1/2, qualified first time home purchase, or death.
2. For Traditional IRAs, penalty-free withdrawals include but are not limited to: qualified higher education expenses; qualified first home purchase (lifetime limit of $10,000); certain major medical expenses; certain long-term unemployment expenses; disability; or substantially equal periodic payments.
3. For single filers in 2016, those with Modified Adjusted Gross Incomes (MAGI) up to $117,000 are eligible to make full contributions.
For married filers in 2016, those with MAGI between $117,000 and $133,000 are eligible to make partial contributions.
4. For a Traditional IRA, full deductibility of a contribution for 2015 is available to active participants whose 2015 Modified Adjusted Gross Income (MAGI) is $98,000 or less (joint) and $61,000 or less (single); partial deductibility for MAGI up to $118,000 (joint) and $71,000 (single). In addition, full deductibility of a contribution is available for working or nonworking spouses who are not covered by an employer-sponsored plan whose MAGI is less than $183,000 for 2015; partial deductibility for MAGI up to $193,000. For 2016 full deductibility of a contribution is available to active participants whose 2016 Modified Adjusted Gross Income (MAGI) is $98,000 or less (joint) and $61,000 or less (single); partial deductibility for MAGI up to $118,000 (joint) and $71,000 (single). In addition, full deductibility of a contribution is available for working or nonworking spouses who are not covered by an employer-sponsored plan whose MAGI is less than $184,000 for 2016; partial deductibility for MAGI up to $194,000.
5. You must be at least 18 years old to open an IRA with Fidelity.
6. At least one spouse must have employment compensation to use a Traditional IRA.
Investing involves risk, including risk of loss.
The images, graphs, tools, and videos are for illustrative purposes only.
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