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Retirement Planning

Start planning for retirement today

Step 1

Define your retirement goals

Retirement looks different for everyone. Regardless of what retirement means to you, defining your objectives – what matters to you and what it might cost – helps fine-tune your planning priorities. No matter where you are in life, you can take steps toward a fulfilling future.

 

 

Retirement calculator

Knowing where you are today is the first step toward planning for the future. Try our Retirement Calculator to see how your current plan compares to your future goals.

Step 2

Understand your options

There are a number of ways to invest for retirement. Each has its pros and cons, but we can help you decide which is right for you.

Brokerage

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What is a brokerage account?
A brokerage account is an account used to buy investments like stocks, bonds and mutual funds.

Why may a brokerage account be right for you?

If you want the flexibility to withdraw your money at any time without early-withdrawal penalties (but without the tax benefits of an IRA).

Who can contribute to a brokerage account?
You can contribute regardless of age and income.

How much can I contribute to a brokerage account?
There are no limits to how much you can contribute.

Are brokerage account contributions deductible?
No.

What is the deadline to make brokerage account contributions?

There are no deadlines.

Do I have to take required minimum distributions from a brokerage account?
No.

Are my brokerage account distributions taxable?
No, you don’t pay taxes when you withdraw your money. But, you pay taxes on gains when you sell, as well as on any interest and dividends that you receive.

With a brokerage account, are there early-withdrawal penalties?
No.

Traditional IRA

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What is a traditional IRA?
A traditional IRA is a retirement account where your contributions may be tax-deductible , but you will likely have to pay taxes when you withdraw your money.

Why a traditional IRA may be right for you?
If you think your tax rate will be lower once you reach retirement.

Who can contribute to a traditional IRA?
You can contribute if you (or your spouse, if filing jointly) have taxable compensation.

Contributions can’t be made for the year in which you reach age 701⁄2 or for any later year.

How much can I contribute to a traditional IRA?
The IRS sets contribution limits for Roth IRAs and traditional IRAs. Learn more.

Are traditional IRA contributions deductible?
Contributions may be deductible, if you qualify.

What is the deadline to make traditional IRA contributions?
The deadline is your tax return filing deadline (not including extensions), typically April 15.

Do I have to take required minimum distributions from a traditional IRA?
You must take your first RMD no later than April 1 of the year after the year in which you turn 701⁄2. Each subsequent RMD is due each year by December 31.

As a result, if you attain age 701⁄2 this year and choose to delay taking this year’s RMD into next year, you must still satisfy your RMD for next year by December 31 (i.e., you will need to take two RMDs in one year).

Are my traditional IRA distributions taxable?
Any deductible contributions and earnings you withdraw, or that are distributed from your traditional IRA, are taxable.

With a traditional IRA, are there early-withdrawal penalties?
If you are under age 591⁄2, you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception.

Roth IRA

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What is a Roth IRA?
A Roth IRA is a retirement account where you may be able to contribute after-tax dollars and you don’t have to pay federal tax on qualified distributions.

Why a Roth IRA may be right for you?
If you think your tax rate will be the same or higher once you reach retirement.

Who can contribute to a Roth IRA?
You can contribute at any age if you (or your spouse, if filing jointly) have taxable compensation and your modified adjusted gross income is below certain amounts.

How much can I contribute to a Roth IRA?

The IRS sets contribution limits for Roth IRAs and traditional IRAs. Learn more.

Are Roth IRA contributions deductible?
Contributions aren’t deductible.

What is the deadline to make Roth IRA contributions?
The deadline is your tax return filing deadline (not including extensions), typically April 15.

Do I have to take required minimum distributions from a Roth IRA?
Not if you are the original owner.

Are my Roth IRA distributions taxable?
Not if it’s a qualified distribution. Otherwise, part of the distribution or withdrawal may be taxable.

With a Roth IRA, are there early-withdrawal penalties?
If you are under age 591⁄2, you may have to pay an additional 10% tax for early withdrawals unless you qualify for an exception.

Step 3

Get started

Ready to start investing? Explore how we can get you one step closer to the retirement you deserve.

J.P. Morgan Advisor

Want the help of a dedicated advisor to develop a personalized strategy? Your J.P. Morgan Advisor gets to know you, your family and your goals to help you develop a strategy tailored to your financial reality.

You InvestSM by J.P. Morgan

Looking to create a portfolio you can monitor or manage yourself from your phone or computer? You InvestSM by J.P. Morgan is a smart, low-cost way to stay invested in your financial goals.

Find a branch

Ready to chat? Come into your local branch to learn how Chase can help you get where you want to go.

Get a glimpse into how our planning process works

Our interactive experience can show you the way a J.P.Morgan Advisor can help you make reaching your goals more probable.

Put J.P. Morgan’s thinking to work for you

Get the relevant insights you need to make smarter investment decisions.

Savings to investing checklist

Want to know when you are ready to start investing? Take a look at our savings to investing checklist.

9 Tips to help you achieve a financially successful retirement

With the right savings and investing strategy, a successful retirement may be within reach.

Don’t miss out

With the right savings and investing strategy, a successful retirement may be within reach.