An IRA can help you secure your future
Already have a J.P. Morgan IRA? Keep an eye on your investments and review your portfolio to help you reach your goals.
What is an IRA and how does it work?
What is an IRA?
An IRA is a tax-advantaged account that helps individuals save for retirement.
Who is an IRA for?
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.
Types of IRAs to get started with
Traditional IRA
Your contributions may be tax-deductible. Your earnings, if any, are tax-deferred and will be included in your taxable income at the time of withdrawal.
Roth IRA
Your contributions are not tax-deductible. Your earnings, if any, are tax-deferred and may be withdrawn tax-free if certain conditions are met.
What’s the difference between a Traditional and Roth IRA?
Traditional and Roth IRAs are types of IRA accounts that offer different ways to save for retirement.
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 (RMD) rules. For individuals age 73 and older, who have a Traditional IRA, 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 account via desktop, mobile or meet with a J.P. Morgan advisor today.
- After opening the right IRA account for your needs, you can choose from a wide range of investment products, such as mutual funds, stocks, ETFs and bonds.
- You may also have the option to roll over your workplace 401(k) into a J.P. Morgan IRA account.
- We know that life is unpredictable. We’re here to help you adjust and make the most out of your long-term investments.
Here’s how we can work together
Invest on your own
Build your investment portfolio on your own with unlimited $0 commission online trades. Footnote 1Opens overlay
Invest on your own
Build your investment portfolio on your own with unlimited $0 commission online trades. Footnote 1Opens overlay
Invest with our advisors
Work 1:1 with a J.P. Morgan advisor to receive tailored guidance and build a financial strategy based on what’s important to you.
Invest with our advisors
Work 1:1 with a J.P. Morgan advisor to receive tailored guidance and build a financial strategy based on what’s important to you.
Already have an IRA with J.P. Morgan?
Explore funding your account
Make a one-time contribution or set up recurring contributions—from your Chase checking or savings accounts into your IRA.
Do more with the Chase Mobile® app
Tap into convenience and security on the go. Fund and manage your IRAs—from almost anywhere.
Discover more ways to plan for your retirement
IRA rollovers
Explore rolling over your 401(k) from a former employer 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
Use this calculator to compare a Traditional and Roth IRA to a general investment account to see how your money can potentially grow over time.
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 2024, the annual maximum is $7,000 if you are under the age of 50, or $8,000 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.
Sharpen your knowledge
Should you convert your traditional IRA to a Roth IRA?
There are a number of factors to consider when converting from a Traditional IRA to a Roth IRA, including income, taxes and timing. Talk to a financial advisor before taking action.
4 strategies for getting the most out of your IRA
Check out these four ways to help maximize your retirement savings with your Traditional or Roth IRA.
What are IRAs and 401(k)s?
When investing for retirement, two common types of accounts are 401(k)s and IRAs. Both options allow you to delay paying taxes on any investment growth or income while your money is in the account.