Traditional IRA

Important legal information about the email you will be sending. By using this service, you agree to input your real email address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an email. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. The subject line of the email you send will be "Fidelity.com: "

Tax benefits	If you're within the IRS income limits, you may be able to deduct all or part of your contributions from your federal taxes.¹
Access to your money	You can take penalty-free withdrawals for certain expenses, such as a first home purchase, birth, adoption, or college expenses.²
Flexibility	As long as you are still working, you never have to stop contributing to a traditional IRA, and you can contribute to an IRA in addition to your 401(k).¹

Tax benefits

If you're within the IRS income limits, you may be able to deduct all or part of your contributions from your federal taxes.¹

Access to your money

You can take penalty-free withdrawals for certain expenses, such as a first home purchase, birth, adoption, or college expenses.²

Flexibility

As long as you are still working, you never have to stop contributing to a traditional IRA, and you can contribute to an IRA in addition to your 401(k).¹

	Fidelity traditional IRA	Fidelity Go^® traditional IRA
Investment management	You are responsible for choosing and managing your investments	We choose and manage your investments using your goals and risk tolerance in this digital account
Planning & guidance	Access to robust planning tools, and support from a Fidelity representative as needed³	Access to digital planning tools and unlimited 1-on-1 coaching calls with a dedicated team of Fidelity advisors once your account balance reaches $25,000³
Minimums	No minimum to open an account⁴	No minimum to open an account⁵
Fees	No account⁴ or advisory fees with this type of retail account Depending on which investments you choose, there may be underlying fees	Advisory fee⁵ $0 for under $25,000 and 0.35%/yr for $25,000 and above Invests in Fidelity mutual funds that do not charge management fees or, with limited exceptions, fund expenses
Support	Thought leadership, research, 24/7 customer service	Thought leadership, research, 24/7 customer service
	Get started	Get started
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 $250,000 for a dedicated advisor. Learn more

Fidelity traditional IRA

Fidelity Go^® traditional IRA

Investment management

You are responsible for choosing and managing your investments

We choose and manage your investments using your goals and risk tolerance in this digital account

Planning & guidance

Access to robust planning tools, and support from a Fidelity representative as needed³

Access to digital planning tools and unlimited 1-on-1 coaching calls with a dedicated team of Fidelity advisors once your account balance reaches $25,000³

Minimums

No minimum to open an account⁴

No minimum to open an account⁵

Fees

No account⁴ or advisory fees with this type of retail account
Depending on which investments you choose, there may be underlying fees

Advisory fee⁵

$0 for under $25,000 and 0.35%/yr for $25,000 and above
Invests in Fidelity mutual funds that do not charge management fees or, with limited exceptions, fund expenses

Support

Thought leadership, research, 24/7 customer service

Thought leadership, research, 24/7 customer service

Get started

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 $250,000 for a dedicated advisor. Learn more

2022 Traditional IRA Deduction Limits — You are covered by a retirement plan at work

Filing Status	Modified adjusted gross income (MAGI)	Deduction Limit
Single individuals	≤ $68,000	Full deduction up to the amount of your contribution limit
	> $68,000 but < $78,000	Partial deduction (calculate)
	≥ $78,000	No deduction
Married (filing joint returns)	≤ $109,000	Full deduction up to the amount of your contribution limit
	> $109,000 but < $129,000	Partial deduction (calculate)
	≥ $129,000	No deduction
Married (filing separately)*
	< $10,000	Partial deduction
	≥ $10,000	No deduction

2022 Traditional IRA Deduction Limits — You are NOT covered by a retirement plan at work

Filing Status	Modified adjusted gross income (MAGI)	Deduction Limit
Single, head of household, or qualifying widow(er)	any amount	A full deduction up to the amount of your contribution limit
Married filing jointly or separately with a spouse who is not covered by a plan at work	any amount	A full deduction up to the amount of your contribution limit
Married filing jointly with a spouse who is covered by a plan at work	$204,000 or less	A full deduction up to the amount of your contribution limit
	> $204,000 but < $214,000	A partial deduction (calculate)
	≥ $214,000 or more	No deduction
Married filing separately with a spouse who is covered by a plan at work
	< $10,000	Partial deduction
	≥ $10,000	No deduction

2023 Traditional IRA Deduction Limits — You are covered by a retirement plan at work

Filing Status	Modified adjusted gross income (MAGI)	Deduction Limit
Single individuals	≤ $73,000	Full deduction up to the amount of your contribution limit
	> $73,000 but < $83,000	Partial deduction (calculate)
	≥ $83,000	No deduction
Married (filing joint returns)	≤ $116,000	Full deduction up to the amount of your contribution limit
	> $116,000 but < $136,000	Partial deduction (calculate)
	≥ $136,000	No deduction
Married (filing separately)*
	< $10,000	Partial deduction
	≥ $10,000	No deduction

2023 Traditional IRA Deduction Limits — You are NOT covered by a retirement plan at work

Filing Status	Modified adjusted gross income (MAGI)	Deduction Limit
Single, head of household, or qualifying widow(er)	any amount	A full deduction up to the amount of your contribution limit
Married filing jointly or separately with a spouse who is not covered by a plan at work	any amount	A full deduction up to the amount of your contribution limit
Married filing jointly with a spouse who is covered by a plan at work	$218,000 or less	A full deduction up to the amount of your contribution limit
	> $218,000 but < $228,000	A partial deduction (calculate)
	≥ $228,000 or more	No deduction
Married filing separately with a spouse who is covered by a plan at work
	< $10,000	Partial deduction
	≥ $10,000	No deduction

*Married (filing separately) can use the limits for single individuals if they have not lived with their spouse in the past year.

Questions?

Step 1: Confirm this IRA is right for you

Why you may want to consider other options

Step 2: Decide if you want to manage the investments in your IRA, or have us do it for you

Don't forget these important steps

Helpful resources

2022 Traditional IRA Deduction Limits — You are covered by a retirement plan at work

2022 Traditional IRA Deduction Limits — You are NOT covered by a retirement plan at work

2023 Traditional IRA Deduction Limits — You are covered by a retirement plan at work

2023 Traditional IRA Deduction Limits — You are NOT covered by a retirement plan at work

Mutual Funds and Mutual Fund Investing - Fidelity Investments

Traditional IRA

Questions?

Step 1: Confirm this IRA is right for you

Why you may want to consider other options

Step 2: Decide if you want to manage the investments in your IRA, or have us do it for you

Don't forget these important steps

Helpful resources

2022 Traditional IRA Deduction Limits — You are covered by a retirement plan at work

2022 Traditional IRA Deduction Limits — You are NOT covered by a retirement plan at work

2023 Traditional IRA Deduction Limits — You are covered by a retirement plan at work

2023 Traditional IRA Deduction Limits — You are NOT covered by a retirement plan at work