With a Roth IRA, you make contributions with money on which you've already paid taxes. You're able to withdraw your contributions tax- and penalty-free at any time, for any reason. Any earnings have the potential to be withdrawn tax-free in retirement, provided that certain conditions are met.1
Earnings grow federally tax-free1
You are able to withdraw your contributions tax- and penalty-free at any time, for any reason
No required minimum distributions (RMDs) during the lifetime of the original owner
No age limit4
Must have employment compensation
|IRA maximum contribution||
2020: $6,000 ($7,000 if age 50 or older)
There is no minimum to open the account
Certain investments, like mutual funds, require a minimum initial investment
Access to a wide range of investments offering growth or income including mutual funds, stocks, bonds, ETFs, and FDIC-insured CDs
|Support and guidance||
Research and tools to help you create a long-term plan and choose investments
There is no opening cost, closing cost or annual fee for Fidelity's Traditional, Roth, SEP, SIMPLE, and rollover IRAs2
$0 commission for online US stock, ETF, and option trades3
Converting to a Roth IRA
Learn about the potential benefits of a Roth IRA and how to take advantage of them if you have assets in a Traditional IRA.
Contribute to your IRA
Already have a Fidelity IRA? Contribute now to take advantage of tax-deferred growth.
Roth Conversion Checklists
Follow these steps to convert a Traditional IRA or an old 401(k) to a Roth IRA.