Traditional IRA
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.
Reasons to consider 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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| Contributions |
Tax-deductible contributions1 |
|---|---|
| Earnings |
Any earnings grow federal income tax-deferred. |
| Withdrawals |
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 |
| Eligibility2 |
Individuals less than 70½ years of age Must have employment compensation |
|---|---|
| Maximum contribution |
2018: $5,500 ($6,500 if age 50 or older)
|
| Minimum investment |
There is no minimum to open the account Certain investments, like mutual funds, require a minimum initial investment |
| Investment options |
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 |
| Account fees |
There are no opening, closing or annual fees for Fidelity's traditional, Roth, SEP, SIMPLE and rollover IRA's. * |
|---|---|
| Trading fees3 |
$4.95 for online U.S. equity trades |
More information
Learn about IRAs
Get the basics, from choosing investments to taking minimum required distributions (MRDs).
Roth vs. Traditional IRA Evaluator
Answer a few questions to find out which type of IRA is right for you.
IRA Checklist
Follow these three steps to open a new IRA or transfer an IRA from another provider to Fidelity.
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