Our investment professionals can help with anything from quick questions to guiding you through each step of the process. ... A distribution from a Roth IRA is tax-free and penalty-free, provided the 5-year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, qualified first-time home purchase, or death. See this page for income and other limits for both types of IRAs . Fidelity ROTH IRA Bonus ROTH IRA Bonus link: Get 500 free trades with $100,000+ deposit. I chose Fidelity. There are plenty of resources online to help you understand the inner workings of Roth IRAs. A nonworking spouse can open a traditional IRA or a Roth, but only if he or she qualifies. A Roth IRA can be a powerful way to save for retirement since potential earnings grow tax-free. In my previous post I went through the process of deciding on a Roth IRA broker. Call us to schedule a review of your investments. See Fidelity.com/commissions for further details. Fidelity supports 128-bit browser encryption. 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, Access to robust planning tools, and support from a Fidelity representative as needed, Access to robust planning tools, and support from a Fidelity advisor as needed, Access to robust planning tools plus 1-on-1 coaching from a dedicated team of Fidelity advisors, $25,000 investment minimum across Personalized Planning & Advice accounts, Depending on which investments you choose, there may be underlying fees, No additional underlying fees for investments (invests in zero expense ratio Fidelity mutual funds), Thought leadership, research, 24/7 customer service. No account fees or minimums to open Fidelity retail IRA accounts. Your toddler or pre-adult child cannot open up their own Roth IRA. Traditional IRA. Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917, (Separate multiple email addresses with commas). Opening a new account takes just a few minutes. 4) Know the contribution limits. (Getty Images) Fidelity does not provide legal or tax advice, and the information provided is general in nature and should not be considered legal or tax advice. How to Open an IRA for a Child . Follow. If you are transferring an existing IRA to Fidelity, choose the same type as the current account. All information you provide will be used by Fidelity solely for the purpose of sending the email on your behalf. Fidelity does not guarantee accuracy of results or suitability of information provided. Usage of Fidelity's online trading services constitutes agreement of the Electronic Services Customer Agreement and License Agreement. - The Roth IRA account has been open for at least 5 years - You are age 59 1/2 or older. Open a Roth IRA from the #1 IRA Provider, Fidelity. Before you begin, find out what information you'll need to provide. Open a Roth IRA. A program account will not be invested according to a selected asset allocation strategy until the account has a balance of at least $10. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets. You can use our IRA Contribution Calculator or our Roth vs. traditional IRA comparison page to see what option might be right for you. Learn more. A distribution from a Roth IRA is tax-free and penalty-free, provided the 5-year aging requirement has been satisfied and one of the following conditions is met: age 59½, disability, qualified first-time home purchase, or death. Filed under Investing, Retirement, Reviews, Slideshow. I'd like Fidelity to choose and manage my investments and I want 1-on-1 coaching. I want control of my former 401(k)s. Rollover IRA. 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