A Roth IRA can help you prepare for retirement
A Roth IRA is an individual retirement account that you fund with after-tax dollars, and that offers tax-deferred growth and free withdrawals if certain conditions are met.
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Learn more about Roth IRA accounts
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” (as defined by the IRS). You cannot deduct contributions to a Roth IRA. Your Roth IRA contributions may be limited based on your income tax filing status and modified adjusted gross income (“MAGI”).
Who is a Roth IRA account for?
A Roth IRA account may be for individuals with taxable compensation who want to save for retirement on a potentially tax-free basis.
Why contribute to a Roth IRA?
Roth IRAs are a way to save for retirement that may provide a tax advantage upon withdrawal. Contributions are made with after-tax dollars (and are never deductible), but “qualified distributions” aren't subject to federal tax upon withdrawal. Learn more.
Roth IRAs 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 Roth IRA account via desktop, mobile or meet with a J.P. Morgan advisor today.
- After opening a Roth IRA account, you can choose from a wide range of investment products, such as mutual funds, stocks, ETFs and bonds.
- When it’s time to withdraw from your Roth IRA account, we’re here to help.
Here’s how we can work together
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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 a Roth IRA account with J.P. Morgan?
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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
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” (as defined by the IRS). You cannot deduct contributions to a Roth IRA
You can easily open a Roth IRA online or with a J.P. Morgan Advisor. Once you fill out an application and are approved, you’re ready to start making contributions (if eligible) and investing in mutual funds, bonds, stocks and exchange-traded funds (ETFs). Just click here to get started.
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.
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. However, your Roth IRA contributions may be limited based on your income tax filing status and modified adjusted gross income. Learn more.
You may withdraw from a Roth IRA at any time; however, earnings that you withdraw may be subject to taxes if they do not meet the IRS definition of a “qualified distribution,” and if you are under age 59 ½ you may have to pay an additional 10% tax for early withdrawal unless you qualify for an exception. On the other hand, you don’t have to pay federal tax on any “qualified distributions.” Note there are no required minimum distributions (RMDs) with a Roth IRA if you are the original owner.
A rollover IRA is an IRA that is set up to accept assets from an employer-sponsored plan like a 401(k) or 403(b) once you have a qualifying distributable event (such as changing employers or retiring). The rollover IRA could be either a Traditional or Roth IRA depending on the circumstances.
Traditional and Roth IRAs both offer a way to save for retirement that give you tax advantages.
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.
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. Learn more (PDF) about their key differences and how each of these IRAs may meet your needs.
Sharpen your knowledge
4 strategies for getting the most out of your IRA
Check out these four ways to help maximize your retirement savings with your IRA.
Should I convert to a Roth IRA?
Some people convert their traditional IRA to a Roth IRA for income-tax-free cash flow during retirement.
Make the most of your tax-advantaged retirement accounts
Consider taking advantage of workplace retirement plans, if available, and IRAs if you are eligible.