Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.
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1. You must be at least 18 to open an IRA at Fidelity.
For a Traditional IRA, for 2018 full deductibility of a contribution is available to active participants whose 2018 Modified Adjusted Gross Income (MAGI) is $101,000 or less (joint) and $63,000 or less (single); partial deductibility for MAGI up to $121,000 (joint) and $73,000 (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 $189,000; and partial deductibility for MAGI up to $199,000. For 2019 full deductibility of a contribution is available to active participants whose 2019 Modified Adjusted Gross Income (MAGI) is $103,000 or less (joint) and $64,000 or less (single); partial deductibility for MAGI up to $123,000 (joint) and $74,000 (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 $191,000; and partial deductibility for MAGI up to $201,000.
3. Exceptions include: first-time home purchase, qualified educational expenses, death, disability, unreimbursed medical expenses, health insurance if you are unemployed.
Brokerage services provided by Fidelity Brokerage Services LLC. Custody and other services provided by National Financial Services LLC. Both are Fidelity Investments companies and members of NYSE and SIPC.