What is a traditional IRA?
A traditional IRA is an individual retirement account (IRA) designed to help people save for retirement, with taxes deferred on any potential investment growth. Contributions are generally made with after-tax money, but may be tax-deductible if you meet income eligibility.1
Benefits of a traditional IRA
Tax savings
Lower income taxes: If you're within the IRS income limits, deduct all or part of your contributions from your federal taxes.1
Access to your money
Big life events: Withdraw penalty-free for certain expenses, such as a first home purchase, birth, or college expenses.2
Easy to qualify
No income limits: As long as you're working, you can keep contributing to a traditional IRA, as well as your 401(k).1
Pick the Fidelity traditional IRA that fits you best
Answer one simple question to start: Who do you want investing your traditional IRA?
I'll invest on my own
- Select and manage your own portfolio of investments with our free planning tools3
- Choose from a broad range of investment options to suit your needs
- No account-opening fees or minimums4—invest with as little as $1
Help me manage my investments
- Investments managed for you based on your preferences and financial goals
- Ongoing monitoring and rebalancing by our investment professionals
- No account-opening minimum—just $10 to invest5
- $0 advisory fee for balances under $25K (0.35% for balances of $25K+)5
Looking for a more hands-on managed approach?
You might want to consider Fidelity® Wealth Services for your planning and investment management needs. Minimum investment is $50,000 for access to a team of advisors or $500,000 for a dedicated advisor.6
Not sure which IRA is right for you? Check out our Roth vs. traditional IRA comparison.
Don't forget these important next steps
Contribute
Remember, you can withdraw penalty-free for qualified expenses at any time. The sooner you contribute, the sooner your money has a chance to grow tax-deferred.
Make or schedule a contribution Log In Required
Invest
Investing gives your money the potential to grow—so don't overlook this critical step. (If you chose Fidelity Go®, we'll do the investing for you.)
View investment options
FAQs
Additional resources
7 things you may not know about IRAs
Make sure you aren't overlooking some strategies and potential tax benefits. Learn more
Traditional or Roth IRA, or both?
Traditional IRAs and Roth IRAs offer different benefits- but having both can make sense. Learn more
Tax rates can help you choose between IRAs
Traditional or Roth account? 2 tips to help you choose. Learn more