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Misc. Investment Items
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Compare Roth and Traditional IRAs
What’s the same:
Hilary Hendershott Wealth Management, LLC (“HHWM”) is a registered investment adviser offering advisory services in the State of California and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by HHWM in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.
- Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.
- A distribution from a Roth IRA is federally tax-free and penalty-free provided that the five-year aging requirement has been satisfied and one of the following conditions is met: age 59½, qualified first time home purchase, or death.
- For Traditional IRAs, penalty-free withdrawals include but are not limited to: qualified higher education expenses; qualified first home purchase (lifetime limit of $10,000); certain major medical expenses; certain long-term unemployment expenses; disability; or substantially equal periodic payments.
- For a Traditional IRA, full deductibility of a contribution for 2016 is available to active participants whose 2016 Modified Adjusted Gross Income (MAGI) is $98,000 or less (joint) and $61,000 or less (single); partial deductibility for MAGI up to $118,000 (joint) and $71,000 (single). In addition, full deductibility of a contribution is available for working or nonworking spouses who are not covered by an employer-sponsored plan whose MAGI is less than $184,000 for 2016; partial deductibility for MAGI up to $194,000. For 2017 full deductibility of a contribution is available to active participants whose 2017 Modified Adjusted Gross Income (MAGI) is $99,000 or less (joint) and $62,000 or less (single); partial deductibility for MAGI up to $119,000 (joint) and $72,000 (single). In addition, full deductibility of a contribution is available for working or nonworking spouses who are not covered by an employer-sponsored plan whose MAGI is less than $186,000 for 2017; partial deductibility for MAGI up to $196,000.
- You must be at least 18 years old to open an IRA with Fidelity.
- At least one spouse must have employment compensation to use a Traditional IRA.
- Certain types of IRAs with Fidelity may be eligible to use an FDIC-Insured Deposit Sweep Program core position. The cash balance in the FDIC–insured Deposit Sweep Program is swept to an FDIC–insured interest-bearing account at a Program Bank. The deposit at the Program Bank is not covered by SIPC. The deposit is eligible for FDIC insurance subject to FDIC insurance coverage limits. All assets of the account holder at the depository institution will generally be counted toward the aggregate limit. The Program Bank will be assigned to your account during the account opening process. See the current list of eligible Program Banks. For more information, please see the FDIC–insured Deposit Sweep Program Disclosure (PDF). For more information about FDIC insurance coverage, please visit the FDIC Web site at www.FDIC.gov or call 877–ASK–FDIC. Customers are responsible for monitoring their total assets at the Program Bank to determine the extent of available FDIC insurance. All FDIC insurance coverage is in accordance with FDIC rules.
* The customer story provided may have been edited for clarity, may not be representative of the experiences of all customers, and does not guarantee future results. The information provided is general in nature, is provided for informational purposes only, and should not be construed as investment advice. The products and services described are provided solely on behalf of Fidelity Brokerage Services LLC.
** Because of the Emancipation Day holiday in Washington DC, which falls on Sunday, April 16, all taxpayers have until April 18, 2017 to make prior year contributions.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of HHWM, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.