Personal Accounts
Let’s grow
your future
Our easy and affordable IRAs can put financial wellness on your roadmap.
Retirement accounts for individuals with big goals
IRA stands for Individual Retirement Account. Unlike a 401(k), IRAs aren’t tied to an employer and they can be easier to withdraw from. This flexibility can make IRAs a good retirement option for people making a change today or planning for the future.
Why Guideline IRA
Built for long-term growth
Intelligent investing
Our investment portfolios rebalance automatically to help you stay on track for retirement. Learn more
No transaction fees
We won’t nickel and dime your account. We don’t charge fees for distributions, rollovers and more.
Low-cost funds
The estimated total AUM fees for our managed portfolios can be under 0.15%.
Fair pricing
Accounts start at $2/month plus an annual 0.08% account fee.
Save for retirement with confidence
Once your account is set up, our tools, expertise and support can help you create your roadmap to retirement.
Investment portfolio recommendations
Comprehensive Help Center articles
Live support via phone or email
Let’s help you find the IRA that works for you
Traditional IRA
Pre-tax contributions
Investment growth is tax deferred
Taxes paid at time of retirement
Contribute up to $7,000/year
With a traditional IRA, contributions are made pre-tax, just like a 401(k). That means you don’t pay taxes on the funds you contribute to your retirement account. Once your funds are invested, they’ll grow tax-deferred. When you retire, the money you withdraw is treated as taxable income. The tax rate will depend on the federal tax bracket you fall in when you withdraw.
Contribution limits to both traditional and Roth IRAs for tax year 2024 are capped at $7,000 if you are under 50 years old, and up to $8,000 if you are 50 or older. For 2023, the contribution limit is $6,500 if under 50 years old, and up to $7,500 if 50 or older. (If you make less than the annual IRS contribution limit for a given tax year, your contribution limit is your taxable compensation for the year.)Roth IRA
After-tax contributions
Investments grow tax free
Tax-free withdrawals on qualified distributions in retirement
Contribute up to $7,000/year
Roth IRAs are funded with after-tax dollars, ie. after you or your employer takes out taxes for state, federal, etc. and gives you your paycheck. Once funded, your investments will grow tax-free. Unlike a traditional IRA, with a Roth IRA, contributions can be withdrawn at any time without incurring penalties or taxes. And once you reach retirement age, qualified withdrawals are tax and penalty free.
In addition to annual contribution limits, Roth IRAs have income restrictions. For example, for contributions allocated to 2024, income restrictions are capped at $161,000 for an individual ($153,000 for 2023), and $240,000 for married couples filing jointly ($228,000 for 2023).Rollovers
Many savers open an IRA to “roll over” funds from existing retirement accounts like a 401(k). But in reality, a Rollover IRA is a traditional IRA or Roth IRA with the same tax advantages and contribution limits.
401(k) accounts are tied to the company that sponsors the 401(k) plan. When you change jobs, your 401(k) stays under your old company’s plan, which means you can’t make any new contributions.
With an IRA (traditional or Roth), you can transfer as much money as you want from your other retirement accounts. And you can make new contributions up to the annual limit each year going forward. By consolidating multiple accounts, it can be easier to keep track of assets and grow your savings.
Invest in your future.
Set up an IRA in about 5 minutes.
Frequently asked questions
How much money do I need to open an IRA with Guideline?
$0. We don’t have a minimum initial deposit requirement, so you can open a Guideline IRA today, and fund it when you’re ready.
Can I contribute to an IRA if I already contribute to a 401(k)?
Yes, you can still contribute to an IRA up to the annual contribution limit, so long as you meet the IRA’s eligibility requirements: For Roth IRAs, your allowable contribution may be limited or reduced to zero depending on income and marital status. The same is true with regards to your eligibility to make pre-tax contributions to a Traditional IRA. Anyone is able to contribute post-tax dollars to a Traditional IRA regardless of income or marital status provided you have earned income.
What fees does Guideline charge for an IRA?
Pricing is $2/month, plus a 0.08% annual account fee. If your account balance is $10,000 or more, the monthly fee is $4/month.
Pricing is charged monthly if you have an account balance. Learn more
Can I have both a Traditional IRA account and Roth IRA account?
Yes. By opening a Guideline IRA, you can choose to make traditional and/or Roth IRA contributions (subject to income limits). However, the total combined contributions must not exceed the annual limit.
When is the deadline to make IRA contributions?
IRA contributions must be made by the following year’s tax filing deadline. For 2022 contributions, the deadline will be April 18, 2023.
What qualifies as earned income?
Earned income includes all the taxable income you received from a job or self-employment. It can include wages, salary, tips, bonuses, and commissions.
When can I make a withdrawal from an IRA account?
Both traditional and Roth IRAs allow you to withdraw your money at any time, but if you have not reached the age of 59½ at the time of withdrawal, you may be subject to taxes and penalties.
Distributions from traditional IRAs are usually treated as ordinary income and are taxable at the IRA owner’s income tax rate. Roth IRA contributions can be withdrawn at any time without incurring taxes, and qualified distributions are not subject to the 10% early distribution penalty.
Can I contribute to a Roth IRA?
Your eligibility to contribute to a Roth IRA depends on modified adjusted gross income (MAGI) which is the amount of income you claim in your tax filing and, if you’re married, your tax filing status. Generally speaking, for 2024, if you are single and your MAGI is less than $146,000 you can make the full contribution. The IRS has more details on these rules.
What's the difference between a traditional IRA and a SEP IRA?
A Simplified Employee Pension (SEP) IRA is a type of retirement benefit that is opened by an employer, whereas traditional IRAs are opened by individuals.
Unlike traditional IRAs, SEP IRA accounts are funded by business income and therefore only funded by employers, not the individual account owner. They also have much higher contribution limits: up to 25% of your annual compensation, capped at $66,000 for 2023 and $69,000 for 2024. Learn more about our SEP IRA.
Can I contribute to a traditional IRA?
Anyone with earned income can contribute to a traditional IRA, however the amount you are able to deduct from your taxable income depends on your modified adjusted gross income (MAGI) and whether you are covered by an employer sponsored retirement plan. If you are not eligible to take a tax deduction for traditional IRA contributions, you may need to file additional tax documents. Learn more