Learn more about IRA accounts
What is an IRA?
An IRA is a tax-advantaged account that helps individuals save for retirement.
Who is an IRA for?
Available at any career stage, an IRA is for individuals with taxable compensation who are planning for retirement.
Why invest in an IRA?
The tax advantages of an IRA may make it a smart way to save for your future.
Two ways to get started with an IRA
Traditional IRA
A Traditional IRA is an individual retirement account that allows potentially tax-deductible contributions and tax-deferred earnings, if any, that can help you save for your retirement.
Roth IRA
A Roth IRA is an individual retirement account to which you contribute after-tax dollars. While there are no deductions for contributions, your earnings, if any, are tax-deferred and may be tax-free upon withdrawal if certain conditions are met.
What’s the difference between a Traditional and Roth IRA?
Traditional and Roth IRAs both offer a way to save for retirement that give you tax advantages.
Traditional IRA
A Traditional IRA is an individual retirement account where your contributions may be tax-deductible, and you pay taxes when you withdraw your money. Potential earnings grow tax-deferred until withdrawal.
Traditional IRAs are subject to the IRS’ required minimum distribution, or RMD, rules. For individuals who have a Traditional IRA and turn 72 on or after January 1, 2023, RMDs must begin by April 1 of the year following the year you turn 73 and must be taken by December 31 of each year after the year you turn age 73.
Roth IRA
A Roth IRA is an individual retirement account where you contribute after-tax dollars, and you don’t have to pay federal tax on “qualified distributions,” including potential earnings, if certain criteria are met. Roth IRAs of original account owners are not subject to the IRS’ RMD rules.
Individual retirement accounts with J.P. Morgan
- Our J.P. Morgan Advisors and online investing tools can help you prioritize your long-term investing and retirement goals.
- Open, access and manage a J.P. Morgan IRA via desktop, mobile or meet with a J.P. Morgan Advisor today
- After opening up the right IRA for your needs, you can choose from a wide range of investment products, such as mutual funds, stocks, ETFs and bonds.
- You also may have the option to roll over your workplace 401(k) into a J.P. Morgan IRA.
- We know that life is unpredictable. We’re here to help you adjust and make the most out of your long-term investments.
JPMorgan Chase and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting professionals before engaging in any transaction.
Here’s how we can work together
However you choose to invest, we’re here to help you make the most of your money.
INVEST ON YOUR OWN J.P. Morgan
Self-Directed Investing
Build your investment portfolio on your own with unlimited $0 commission online trades.
INVEST ON YOUR OWN J.P. Morgan
Self-Directed Investing
Build your investment portfolio on your own with unlimited $0 commission online trades.
WORK WITH OUR TEAM OF ADVISORSJ.P. Morgan
Personal Advisors
Work with a team of fiduciary advisors who will create a personalized financial plan, match you to expert-built portfolios and provide ongoing advice via video or phone.
WORK WITH OUR TEAM OF ADVISORSJ.P. Morgan
Personal Advisors
Work with a team of fiduciary advisors who will create a personalized financial plan, match you to expert-built portfolios and provide ongoing advice via video or phone.
WORK ONE-ON-ONE WITH AN ADVISORJ.P. Morgan
Private Client Advisor
Work 1:1 with a dedicated advisor in your local community to create a personalized financial strategy and build a custom investment portfolio.
WORK ONE-ON-ONE WITH AN ADVISORJ.P. Morgan
Private Client Advisor
Work 1:1 with a dedicated advisor in your local community to create a personalized financial strategy and build a custom investment portfolio.
Discover more ways to get ready for retirement
Roll over your 401(k)
Consider moving your employer-sponsored retirement plan account into a J.P. Morgan IRA.
Retirement guides
Wherever you are in your retirement planning journey, there’s always a best next step. Explore our retirement guides and get a sense of what you could be focusing on.
IRA Calculator
Choose the right IRA option for your retirement and compare traditional and Roth options to see how they compare to a general investment account.
Frequently Asked Questions
IRA stands for individual retirement account, which is distinct from a workplace retirement account, such as a 401(k).
An individual retirement account, or IRA, is a tax-advantaged way of saving for retirement. A company's 401(k) may not be enough to help you reach your financial milestones, so also contributing to an IRA can help bring you closer to your retirement goals. The two main types of IRAs are Traditional and Roth.
The IRS sets annual contribution limits for Roth IRAs and Traditional IRAs. For 2023, the annual maximum is $6,500 if you are under the age of 50, or $7,500 if you are 50 or above. Learn more.
Note that you may be able to contribute to both an IRA and your company’s 401(k) or other employer sponsored retirement account.
How much you need to retire depends on many factors including when you retire and your expected cost of living, so it’s often a good idea to work with a financial professional to help determine how much you may need. You can also use our helpful retirement calculator to estimate your future savings.
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