With a traditional IRA, you make contributions with money you may be able to deduct on your tax return. Any earnings potentially grow tax-deferred until you withdraw them in retirement.
Benefits of a traditional IRA
- No account fees or minimums to open an account
- Earnings grow federal income tax-deferred
- Help choosing from a wide range of investment options
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Any earnings grow federal income tax-deferred.
10% early withdrawal penalty may apply for other withdrawals taken prior to age 59½ if no exceptions apply.
Penalty-free withdrawals for first home purchase and certain college expenses
Required minimum distributions (RMDs) starting at age 70½
Individuals less than 70½ years of age
Must have employment compensation
2018: $5,500 ($6,500 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
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Research and tools to help you create a long-term plan and choose investments
There are no opening, closing or annual fees for Fidelity's traditional, Roth, SEP, SIMPLE and rollover IRA's. *
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Learn about IRAs
Get the basics, from choosing investments to taking minimum required distributions (MRDs).
IRA Contribution Calculator
Answer a few questions to find out which type of IRA is right for you.
Follow these three steps to open a new IRA or transfer an IRA from another provider to Fidelity.
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