Open an IRA
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To complete the sign up process you will need to have the following information:
- Permanent Residential Address
- Date of Birth
- Social Security Number
- Employer Name and Address
Choose an IRA Type:
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Traditional IRAs are the most common type of IRA.
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Roth IRAs are a good options for some individuals.
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Switched Jobs? Rollover your 401(k) to a new IRA.
Don't know what IRA you need?
If you don't know if a Traditional IRA, Roth IRA, or Rollover IRA is best for you check out our IRA Basics. You'll find a wealth of information there that will answer most of your questions. You can also ask a question on our community page and one of our financial experts will respond directly.
More Resources
IRA Contribution Limits 2012
Contribution limits for Individual Retirement Arrangements (IRAs) are reviewed every year based on cost-of-living increases. When cost-of-living index thresholds are met, certain features of retirement...
Who Can Contribute to an IRA?
Many people don’t realize that just about everyone can open up and fund an Individual Retirement Arrangement (IRA). Though you must have some amount of...
IRA Risk Management
Risk management is the identification and assessment of impending uncertainties that can appear in any financial market. In short, risk management is an effort to...
Rollover IRA – What Is an IRA Rollover?
When you take money or property out of a retirement account before the rules allow it, your withdrawal is typically subject to ordinary income tax...
More Information
Because of the unique tax advantages to an IRA (“Individual Retirement Account”), it is universally recommended as first step you should take in saving for your retirement.
Many people assume that they will be strictly limited in what they can invest their money in if the purpose is for funding an IRA. This is simply not true. An IRA investment can be in bonds, stocks, CD’s, precious metals, mutual funds . . . just about anything that you would want to invest in. If you open your IRA with a trusted broker, they will be happy to walk you through all of the options that you have in how to invest for your future.
There are a few different types of IRA’s and it is easy to get caught up in financial and technical speak when explaining them. At IRA.com we speak your language and we break the break the relative advantages and disadvantages of each type of IRA into language that we all understand.
Other investments you fund with money that you first paid taxes on. But with a Traditional IRA, you don’t pay taxes on the amount you contribute until you start taking distributions. In addition, the investment earnings on ALL types of IRA’s are not taxable until you start taking distributions.
Traditional IRA
With a traditional IRA you get a tax deduction the year you contribute to your plan. You can contribute up to $5,000 each year, or up to $6,000 if you are over 50 years old. The money grows in your IRA tax free and you can start withdrawing from it at age 59.5. When you withdraw money from your IRA it is taxed as regular income.
Roth IRA
Unlike a traditional IRA, you do not get a tax deduction the year you contribute to your plan. However, when you start withdrawing money from your Roth IRA it is not taxed. This is especially useful if you are worried about what your tax braket will be when you retire. Just like a traditional IRA, your savings grow tax free while they are in your Roth IRA.
Rollover IRA
A rollover IRA is simply taking your employer sponsored retirement plan and moving it to a personal IRA. This is known as opening a Rollover IRA.
Still need help? There are tons of free resources over in our Savings Center »
If you are looking to open an IRA, click here to find the plan that works for you »