You’re about to see some the best IRA accounts on the market.
These picks are determined using an unbiased rating system that considers everything from trading costs and fees to investment options, trading platforms, features, customer support availability and more.
In fact, I use several of these exact IRA providers to invest for my retirement.
With that, it’s time to reveal our picks of the best IRA accounts.
Terms and conditions apply*. For 401k rollovers, existing SoFi IRA members must complete 401k rollovers via this link For SoFi members without a SoFi IRA, a SoFi IRA must first be opened, and 401k rollover must be completed utilizing Capitalize via this link. SoFi and Capitalize will charge no additional fees to process a 401(k) rollover to a SoFi IRA. SoFi is not liable for any costs incurred from the existing 401k provider for rollover. Please check with your 401k provider for any fees or costs associated with the rollover. For IRA contributions, only deposits made via ACH and cash transfer from SoFi Bank accounts are eligible for the match. Click here for the 1% Match terms and conditions.
Must be a SoFi Plus member at the time a recurring deposit is received into your SoFi Active or Automated investing account to qualify. Bonus calculated on net monthly recurring deposits made via ACH and paid out as Rewards Points. See Rewards Terms of Service. SoFi reserves the right to change or terminate this promotion at any time without notice. See terms and limitations. https://www.sofi.com/sofiplus/invest/#disclaimers
15+ online brokers reviewed and rated by our team of experts
Evaluated under our unbiased rating system covering eight categories
20+ years of combined experience covering financial topics
We're big on editorial independence. That means our content, reviews and ratings are fair, accurate and trustworthy. We don't let advertisers or partners sway our opinions. Our financial experts put in the hard work, spending hours researching and analyzing hundreds of products based on data-driven methodologies to find the best accounts and providers for you. Explore our editorial guidelines to see how we work.
SoFi Invest® provides access to credentialed financial planners, a valuable service that often costs hundreds of dollars per session. SoFi Plus members can enjoy as many appointments with financial planners as they like during their eligibility period, while non-SoFi Plus members are limited to one appointment. Get access and connect with a SoFi financial planner to discuss anything from investment strategies to paying off debt to tax planning. Start with as little as $1 with SoFi's robo-advisor and get a custom portfolio of low-cost ETFs, with recurring deposits and automatic rebalancing.
Meanwhile, hands-on investors can trade stocks, ETFs, mutual funds and alternative asset interval funds with a broker that makes investing approachable and professional financial guidance accessible.
Minimum deposit
$0
Retirement account types
Roth, Traditional, SEP, Rollover
Annual fee
$0 per month
IRA match
1%
SoFi Invest® provides access to credentialed financial planners, a valuable service that often costs hundreds of dollars per session. SoFi Plus members can enjoy as many appointments with financial planners as they like during their eligibility period, while non-SoFi Plus members are limited to one appointment. Get access and connect with a SoFi financial planner to discuss anything from investment strategies to paying off debt to tax planning. Start with as little as $1 with SoFi's robo-advisor and get a custom portfolio of low-cost ETFs, with recurring deposits and automatic rebalancing.
Meanwhile, hands-on investors can trade stocks, ETFs, mutual funds and alternative asset interval funds with a broker that makes investing approachable and professional financial guidance accessible.
Pros
Access to SoFi's credentialed financial planners
$0 commissions on stocks and ETFs
Diversify with alternative assets in your IRA
No investment minimum
Cons
No tax-loss harvesting with its robo-advisor
No automatic dividend reinvestment with its robo-advisor
$25 inactivity fee
Account types
IRA
Available asset types
Stocks, Mutual funds, ETFs, Alternatives
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA/ SIPC.
There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options
Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser.
Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information
SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
Robo Advisor: Automated investing is offered through SoFi Wealth LLC, an SEC-registered investment adviser. 0.25% fee is based on your account value. The wrap program fee may cost more or less than purchasing brokerage, custodial, and recordkeeping services separately.
Probability of Member receiving $1,000 is a probability of 0.026%; If you don’t make a selection in 30 days, you’ll no longer qualify for the promo. Customer must fund their account with a minimum of $50.00 to qualify.
Terms and conditions apply*. For 401k rollovers, existing SoFi IRA members must complete 401k rollovers via this link For SoFi members without a SoFi IRA, a SoFi IRA must first be opened, and 401k rollover must be completed utilizing Capitalize via this link. SoFi and Capitalize will charge no additional fees to process a 401(k) rollover to a SoFi IRA. SoFi is not liable for any costs incurred from the existing 401k provider for rollover. Please check with your 401k provider for any fees or costs associated with the rollover. For IRA contributions, only deposits made via ACH and cash transfer from SoFi Bank accounts are eligible for the match. Click here for the 1% Match terms and conditions.
Must be a SoFi Plus member at the time a recurring deposit is received into your SoFi Active or Automated investing account to qualify. Bonus calculated on net monthly recurring deposits made via ACH and paid out as Rewards Points. See Rewards Terms of Service. SoFi reserves the right to change or terminate this promotion at any time without notice. See terms and limitations. https://www.sofi.com/sofiplus/invest/#disclaimers
It wasn't just its offering of commission-free trades that led Robinhood to transform the way people buy and sell stocks over the past decade but also its beginner-friendly mobile app with its intuitive design and agile interface, which simplified investing for the masses. Nothing's changed on that front. IRAs that pay matching contributions and 24/5 trading are just some of the upgrades Robinhood's made since first launching.
Robinhood's launch of its IRA matching contributions is yet another innovative product that keeps it steps ahead of other brokers. Earn up to a 3% match on annual contributions with Robinhood Gold or 1% without. IRA transfers and 401(k) rollovers completed by April 30 earn 2% with Robinhood Gold and 1% without, with no cap. All this on top of fractional share trading, 100% commission-free trades for stocks, ETFs and options, instant deposits and a user-friendly platform that makes investing a breeze. Robinhood has lots to offer investors looking to build a retirement portfolio, and it'll reward you for making the move.
Minimum deposit
$0
Retirement account types
Roth, Traditional, Rollover
Annual fee
$0 per month
IRA match
Up to 3%
It wasn't just its offering of commission-free trades that led Robinhood to transform the way people buy and sell stocks over the past decade but also its beginner-friendly mobile app with its intuitive design and agile interface, which simplified investing for the masses. Nothing's changed on that front. IRAs that pay matching contributions and 24/5 trading are just some of the upgrades Robinhood's made since first launching.
Robinhood's launch of its IRA matching contributions is yet another innovative product that keeps it steps ahead of other brokers. Earn up to a 3% match on annual contributions with Robinhood Gold or 1% without. IRA transfers and 401(k) rollovers completed by April 30 earn 2% with Robinhood Gold and 1% without, with no cap. All this on top of fractional share trading, 100% commission-free trades for stocks, ETFs and options, instant deposits and a user-friendly platform that makes investing a breeze. Robinhood has lots to offer investors looking to build a retirement portfolio, and it'll reward you for making the move.
Pros
Easy to sign up and easy to invest
Fractional share trading
Earn up to a 3% match on annual contributions
Earn up to 2% on all IRA transfers and 401(k) rollovers
Commission-free stock, ETF and options trading
24/7 customer support
Cons
Limited advanced tools unless you upgrade to Robinhood Gold
Plan for retirement with Public's Traditional, Roth and Rollover IRAs, offering access to stocks, ETFs and options and a 1% match on IRA contributions and, for a limited time, IRA transfers and rollovers. Enjoy commission-free trading on stocks, ETFs and options, plus rebates on options trades with no per-contract fees. Unlike many brokers, Public does not use payment for order flow (PFOF) on stocks and ETFs, ensuring your trades prioritize optimal order execution. With Public's Investment Plans, you can set up recurring contributions to a pre-made portfolio or customize your own with up to 20 assets. Plus, earn up to $10,000 with each rollover or transfer.
Annual fee
$0 per month
Minimum deposit
$1
Signup bonus
Get up to $10,000 and transfer fees covered
Plan for retirement with Public's Traditional, Roth and Rollover IRAs, offering access to stocks, ETFs and options and a 1% match on IRA contributions and, for a limited time, IRA transfers and rollovers. Enjoy commission-free trading on stocks, ETFs and options, plus rebates on options trades with no per-contract fees. Unlike many brokers, Public does not use payment for order flow (PFOF) on stocks and ETFs, ensuring your trades prioritize optimal order execution. With Public's Investment Plans, you can set up recurring contributions to a pre-made portfolio or customize your own with up to 20 assets. Plus, earn up to $10,000 with each rollover or transfer.
Pros
Commission-free stocks, options and ETFs
No options per-contract fees
Earn rebates on options
No payment for order flow on equities
Earn a 1% IRA match
Cons
Best tools and features are reserved for Public Premium members for $8 a month
In addition to receiving high marks from both Apple and Android users, Interactive Brokers' (IBKR) main mobile trading platform, IBKR Mobile, offers the powerful trading tools that many brokers reserve for their web and desktop trading platforms. These include advanced, interactive charts with over 90 indicators, analyst ratings and price targets, earnings estimates, company financials and more. In other words, there's little you can't do with IBKR Mobile. What's more, Interactive Brokers offers the more beginner-friendly IBKR GlobalTrader and IMPACT mobile trading platforms for those looking for a more simplified investing experience.
IBKR Mobile is the most feature-rich mobile platform according to Finder's analysis, while IBKR GlobalTrader is a solid option for beginners. Tack on its wide range of investment options, low trading costs and access to global markets and you can see why IBKR is not only the best IRA for mobile trading but also one of the best brokerage accounts on the market.
Other winning categories: Best for international trading
Minimum deposit
$0
Retirement account types
Roth, Traditional, SEP, Rollover
Annual fee
$0 per year
IRA match
N/A
In addition to receiving high marks from both Apple and Android users, Interactive Brokers' (IBKR) main mobile trading platform, IBKR Mobile, offers the powerful trading tools that many brokers reserve for their web and desktop trading platforms. These include advanced, interactive charts with over 90 indicators, analyst ratings and price targets, earnings estimates, company financials and more. In other words, there's little you can't do with IBKR Mobile. What's more, Interactive Brokers offers the more beginner-friendly IBKR GlobalTrader and IMPACT mobile trading platforms for those looking for a more simplified investing experience.
IBKR Mobile is the most feature-rich mobile platform according to Finder's analysis, while IBKR GlobalTrader is a solid option for beginners. Tack on its wide range of investment options, low trading costs and access to global markets and you can see why IBKR is not only the best IRA for mobile trading but also one of the best brokerage accounts on the market.
Other winning categories: Best for international trading
Pros
Three mobile trading platforms, including the versatile IBKR Mobile and the beginner-friendly IBKR GlobalTrader
Designed primarily for derivatives trading, tastytrade boasts an impressive collection of trading products in its IRAs and some of the best pricing on options and futures contracts in the industry. Stocks and ETFs are commission-free, options have no closing commissions and its trading platforms are powerful, with advanced trading, research and analysis tools, including profit and loss visualizations and a quick roll feature to roll your option position into the future.
Meanwhile, tastytrade offers a comprehensive learning center with video and live demos to help you level up your trading.
Designed primarily for derivatives trading, tastytrade boasts an impressive collection of trading products in its IRAs and some of the best pricing on options and futures contracts in the industry. Stocks and ETFs are commission-free, options have no closing commissions and its trading platforms are powerful, with advanced trading, research and analysis tools, including profit and loss visualizations and a quick roll feature to roll your option position into the future.
Meanwhile, tastytrade offers a comprehensive learning center with video and live demos to help you level up your trading.
Pros
Highly customizable trading platform
Extensive lineup of tradable derivative assets
Competitive options fee structure
Helpful educational resources and live programming
One of the most trusted names in the industry, Vanguard's history dates back to when it launched its first mutual fund back in 1929. Today, Vanguard continues to stand out for its vast low-cost collection of index funds, actively managed funds, target retirement funds and environmental, social and corporate governance-focused funds.
But Vanguard also offers access to stocks, options, ETFs and bonds in its IRAs, few account fees and access to human and robo financial advisory services for those looking for additional guidance on their investments.
Minimum deposit
$0
Retirement account types
Roth, Traditional, SEP, Spousal, Rollover
Annual fee
$25 per month
One of the most trusted names in the industry, Vanguard's history dates back to when it launched its first mutual fund back in 1929. Today, Vanguard continues to stand out for its vast low-cost collection of index funds, actively managed funds, target retirement funds and environmental, social and corporate governance-focused funds.
But Vanguard also offers access to stocks, options, ETFs and bonds in its IRAs, few account fees and access to human and robo financial advisory services for those looking for additional guidance on their investments.
Pros
Access to more than 160 no-transaction-fee mutual funds from Vanguard and other companies
Betterment introduced the world to robo-advisors when it first launched onto the scene in 2010 with its automated portfolios of stocks and bonds, and it's been at the top of the robo-advisory service pack ever since. Today, Betterment's refined automated investing platform includes numerous curated portfolio options, a high-yield cash account and access to a human advisor, which has helped it rack up over 800,000 customers and more than $40 billion in assets under management.
Minimum deposit
$10
Retirement account types
Roth, Traditional, SEP, Rollover
Annual fee
0.25% on balances up to $99,999 0.4% on balances of $100,000+
Betterment introduced the world to robo-advisors when it first launched onto the scene in 2010 with its automated portfolios of stocks and bonds, and it's been at the top of the robo-advisory service pack ever since. Today, Betterment's refined automated investing platform includes numerous curated portfolio options, a high-yield cash account and access to a human advisor, which has helped it rack up over 800,000 customers and more than $40 billion in assets under management.
Pros
Tax-loss harvesting
Automatic rebalancing
Automatic dividend reinvestments
Earn 5% APY on your cash
Invest and directly own crypto through a robo-advisor
Cons
0.25% annual management fee
$100,000 minimum balance to access its premium service tier and personalized financial planning
Available asset types
ETFs, High-yield cash account
Minimum deposit
$10
Retirement account types
Roth, Traditional, SEP, Rollover
Annual fee
0.25% on balances up to $99,999 0.4% on balances of $100,000+
Minors and young adults needn't look further than E*TRADE to get started investing for the later years in life. Pioneer of online trading, E*TRADE offers one of the most diverse lineups of IRA account types among brokers we review. Six IRA types in total, including custodial IRAs
While an adult is required to manage the account, E*TRADE's IRA for minors offers traditional and Roth IRAs for children under 18 years old with earned income. No annual IRA fees, no account minimums, just access to a wide range of investment choices, including commission-free stocks, options and ETFs.
Minimum deposit
$0
Retirement account types
Roth, Traditional, Rollover, Beneficiary Traditional
Annual fee
$0 per year
Minors and young adults needn't look further than E*TRADE to get started investing for the later years in life. Pioneer of online trading, E*TRADE offers one of the most diverse lineups of IRA account types among brokers we review. Six IRA types in total, including custodial IRAs
While an adult is required to manage the account, E*TRADE's IRA for minors offers traditional and Roth IRAs for children under 18 years old with earned income. No annual IRA fees, no account minimums, just access to a wide range of investment choices, including commission-free stocks, options and ETFs.
Newcomer investing apps may have the edge in terms of offering a more enhanced user experience, but traditional brokers like Schwab sweep the floor with these apps when it comes to the breadth of investment options, access to expert guidance and, for self-guided investors, extensiveness of research tools.
There's Schwab Equity Ratings, MSCI ESG ratings, Morningstar ratings, Thomson Reuters ratings, CFRA ratings, Argus ratings and MarketEdge ratings. There's premium analyst reports, screeners, market news and stock lists. There's dividend history and growth statistics, expected and historical earnings information, a peer and ratios comparison, detailed company financials and time-saving technical analysis summaries. In other worse, an IRA with one of the nation's largest investment services firms may just be what you need if research plays a big role in your investment strategy.
Newcomer investing apps may have the edge in terms of offering a more enhanced user experience, but traditional brokers like Schwab sweep the floor with these apps when it comes to the breadth of investment options, access to expert guidance and, for self-guided investors, extensiveness of research tools.
There's Schwab Equity Ratings, MSCI ESG ratings, Morningstar ratings, Thomson Reuters ratings, CFRA ratings, Argus ratings and MarketEdge ratings. There's premium analyst reports, screeners, market news and stock lists. There's dividend history and growth statistics, expected and historical earnings information, a peer and ratios comparison, detailed company financials and time-saving technical analysis summaries. In other worse, an IRA with one of the nation's largest investment services firms may just be what you need if research plays a big role in your investment strategy.
Pros
Access to premium third-party research
Equity ratings, earnings information and technical analysis summaries
Fidelity's undeniably one of the best brokers on the market. Its investment options are diverse and its trading tools robust — exactly what you'd expect from a full service broker. Fidelity offers mobile, web-based and desktop trading platforms, with access to top-tier research and analysis tools like advanced charts, valuation metrics and third-party research reports. It also offer beginner-friendly resources, such as trending stock lists, educational resources and 24/7 customer support. Fidelity also boasts some of the lowest back-end account fees in the industry.
Meanwhile, Fidelity offers industry-leading planning and advice resources, including both human and robo-advisor portfolio management services.
Other winning categories: Best IRA account without fees
Minimum deposit
$0
Retirement account types
Roth, Traditional, SEP, Rollover, Custodial
Annual fee
$0 per year
Fidelity's undeniably one of the best brokers on the market. Its investment options are diverse and its trading tools robust — exactly what you'd expect from a full service broker. Fidelity offers mobile, web-based and desktop trading platforms, with access to top-tier research and analysis tools like advanced charts, valuation metrics and third-party research reports. It also offer beginner-friendly resources, such as trending stock lists, educational resources and 24/7 customer support. Fidelity also boasts some of the lowest back-end account fees in the industry.
Meanwhile, Fidelity offers industry-leading planning and advice resources, including both human and robo-advisor portfolio management services.
Other winning categories: Best IRA account without fees
Pros
$0 commissions on stocks and ETFs
Few-to-no account fees
Wide range of investment options
Large selection of top-tier research providers
Robo-advisor with no advisory fees under $25,000
24/7 customer support
Cons
$25,000 minimum to access a Fidelity financial advisor
The Fidelity Active Trader Pro desktop platform interface looks and feels antiquated
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Methodology: How we choose the best IRA accounts
Finder’s investments experts review 18 brokers available on the market to narrow down the best IRAs for trading and investing.
We analyze each platform based on 147 key metrics we collect directly from brokers and assess each provider’s performance based on eight different categories, weighing each metric based on the expertise and insights of Finder’s investment experts. We then score and rank each provider depending on how it performs in each category. If a broker offers a unique, standout feature that’s a key distinguisher between others, the broker is given additional recognition.
How we weigh the overall rating
Category
Weighting
Investment options
25%
Trading platforms and technology
15%
Trading costs
10%
Account fees
10%
Account types and minimums
5%
Customer support
10%
Mobile app ratings and security
2.5%
Features and amenities
20%
IRA match
2.5%
We update our best picks as products change, disappear or emerge in the market. We also regularly review and revise our selections to ensure our best provider lists reflect the most competitive available.
Estimate your retirement savings
Curious about your future nest egg? Use our calculator.
How do I open an IRA?
Opening an IRA isn’t much different than opening a brokerage account or bank account. With most providers, you can open an IRA online in minutes.
Choose a broker or robo-advisor, and complete a brief application by providing personal information such as your name, address, date of birth and Social Security number. Completed applications are typically approved instantly, though the broker may take a couple days to verify your information. Then, connect a bank account to fund your account or roll over an old 401(k).
What to look for when choosing the best IRA account
Finder’s picks for the best IRA accounts are meant to provide you with a starting point for finding the right broker for your retirement. That said, it’s important to consider your personal preference and individual investing goals too.
Consider the following factors when comparing your options:
Fees. From trading fees to miscellaneous fees, it’s important to understand the cost to trade and invest. Consider which investment products you plan to trade and the fees that apply, but also be mindful of any back-end fees, such as inactivity or transfer fees, that can also eat into your profit.
Tradable assets. Not every IRA custodian offers the same investment options in an IRA as it does in an individual brokerage account. Stocks and ETFs are standard, but what if you want to expand into options, mutual funds or bonds?
Account types. What other account types, in addition to IRAs, does the custodian offer? Consider your other investment needs and how important it is to maintain all your accounts under one roof.
Research and data tools. In-house research and tools simplify investing, as you don’t have to venture elsewhere to make an informed decision about an investment. If you’re a passive index investor, extensive research and analysis tools may not matter all that much. Active stock pickers may feel otherwise.
Mobile app reviews. Mobile trading is more popular than ever, allowing you to trade and invest from anywhere. Check out what current or previous customers say about the platform’s functionality.
Signup bonus. While it may not make sense to choose an IRA custodian solely based on whether or not they offer a signup bonus, a new customer incentive such as a free stock may be enough to help you choose one over another if all else is equal.
The main difference is how they’re taxed: Contributions to traditional IRAs are tax-deductible, but distributions in retirement are taxed. Roth IRAs, on the other hand, allow tax-free distributions in retirement, but you need to pay taxes when you make your contributions.
If you’re saving and building up gains in the account for a long time and think you’ll be in a higher tax bracket when you leave the workforce, a Roth may be a better option. But if a tax deduction in the year in which you made the contribution is more important, then a traditional IRA may be more suitable. Alternatively, open a traditional IRA and a Roth IRA, if you’re eligibile, for a choice of taxable or tax-free contributions and income when you retire. You can’t contribute more than the total contribution limit for that tax year to all your IRAs, and Roth IRAs have specific income limits you need to meet to qualify to open an account.
Expert insight: Finding the app that works for you
"In theory, it makes sense to contribute more to a Roth IRA now if you think income tax rates will go up in the future, as you pay taxes now and not later. In reality, we can’t reliably predict what will happen with income tax rates in the future. But a Roth may still be better because you don’t pay taxes on investment earnings. We can’t say the same for traditional IRAs."
Investing through an IRA up to the $7,000 ($8,000 if you’re age 50 or older) limit in 2024 can help grow your retirement savings at a potentially quicker pace than if you were to invest that same $7,000 in a taxable brokerage account. That’s because IRA contributions and earnings grow tax-free or tax-deferred and you can enjoy tax-deductions or tax-free withdrawals in retirement, depending on which IRA type you go with — traditional IRA or Roth IRA. Plus, trade most assets in an IRA just as you would in an individual brokerage account.
But not all Americans who buy stocks do it through one of these accounts, Finder’s Consumer Confidence Index shows. Of Americans that invest in stocks, 45% trade and invest through a taxable brokerage account. Only 25% invest through an IRA and take advantage of these valuable tax benefits, while 21% have no IRA at all.
Frequently asked questions
What is the best type of IRA to have?
Ultimately, it’s up to you to decide which IRA type is best for you. A traditional IRA might be best if you want an immediate tax break and want to postpone paying taxes on your money until you’re in retirement. A Roth IRA might be best if you want you’re money to grow tax-free and want tax-free withdrawals in retirement.
What is the best IRA to avoid taxes?
Unfortunately, no IRA will let you avoid taxes. You’ll have to decide whether you want to pay taxes now or in retirement.
Which investments are best for IRAs?
Choosing the best investments for your IRA account depends on your risk tolerance and how close you are to retirement. For those with a higher risk tolerance, you may choose to invest in stocks in the volatile tech sector, whereas those with a lower risk tolerance might choose to invest in fixed income (bonds) or less volatile dividend stocks and ETFs.
If you don’t want to have to think too deeply about how to invest in your IRA, you may want to open an IRA with a bank or platform that offers a robo-advisory service — or a service that selects assets for you to invest in and automatically rebalances your portfolio according to your risk tolerance.
Where is the safest place to put an IRA?
Banks, registered brokers and other financial institutions that are IRS-approved typically provide the safest place to put an IRA. If you hold an IRA at an FDIC-insured bank, any bank deposit products in your IRA, such as a certificate of deposit, is insured up to $250,000 in the event the bank goes under. Meanwhile, SIPC-registered brokers insure customers up to $500,000 in cash and securities per account.
What is the best way to fund an IRA?
The best way to fund an IRA is by cash, check or online transfer from your bank. If you have an IRA at another financial institution, you can also roll over your funds into a new IRA.
Paid non-client promotion. Finder does not invest money with providers on this page. If a brand is a referral partner, we're paid when you click or tap through to, open an account with or provide your contact information to the provider. Partnerships are not a recommendation for you to invest with any one company. Learn more about how we make money.
Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
Matt Miczulski is an investments editor at Finder. With over 450 bylines, Matt dissects and reviews brokers and investing platforms to expose perks and pain points, explores investment products and concepts and covers market news, making investing more accessible and helping readers to make informed financial decisions.
Before joining Finder in 2021, Matt covered everything from finance news and banking to debt and travel for FinanceBuzz. His expertise and analysis on investing and other financial topics has been featured on CBS, MSN, Best Company and Consolidated Credit, among others. Matt holds a BA in history from William Paterson University. See full bio
Matt's expertise
Matt has written 206 Finder guides across topics including:
Pros and cons to consider before you sign up for a Goldco precious metals IRA.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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