Traditional IRA

A traditional IRA can be a great way to save for retirement since potential earnings grow tax deferred, and your contributions may be tax deductible.1

With Fidelity, you have a broad range of investment options, including options to have us manage your money for you. You'll get exceptional service as well as planning and guidance support.

Step 1: Confirm this IRA is right for you

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


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

Why you may want to consider other options

You may want to compare the benefits of a traditional IRA and a Roth IRA, since potential earnings of a Roth grow tax-free and might allow you to save more. You can use our IRA Contribution Calculator to find out how much you may be able to contribute. 

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

  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
  • No minimum to open an account4
  • No minimum to open an account5
  • 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
  • Thought leadership, research, 24/7 customer service
  • Thought leadership, research, 24/7 customer service

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

Don't forget these important steps

Once you get your account set up, what's next?

For a Fidelity traditional IRA: Make your first contribution. Once your money is in your IRA, you should get it invested. This is a very important step—investing is how your money has the potential to grow over time.

For a Fidelity Go® traditional IRA Make your first contribution. You don't need to choose or manage your investments—we do that for you based on the information you gave us.

Once your Fidelity Go® traditional IRA reaches $25,000 consider setting up a coaching appointment to review your full financial picture. That's why we're here!