Interested in opening an account?

TD Ameritrade has been acquired by Charles Schwab. Now you’ll get access to thinkorswim® trading platforms and robust trading education at Schwab, along with great service, a commitment to low costs, and a wide range of wealth management and investing solutions.

Open an account at Schwab today. You can still open an account at TD Ameritrade and we’ll let you know when your account is ready to be moved.

Get in touch Call or visit a branch

Call us: 800-454-9272

175+ Branches Nationwide

Roth IRA

Is a Roth IRA right for you?

A Roth IRA is an individual retirement account that offers the opportunity for tax-free income in retirement. Annual contributions are taxed upfront and all earnings are federal tax-free when they are distributed according to IRS rules. This is much different than a Traditional IRA, which taxes withdrawals. Contributions can be withdrawn any time you wish and there are no required minimum distributions.  If you are in a lower tax bracket today than you will be during retirement, a Roth IRA may be a smart choice.

Benefits of a Roth IRA

  • Withdrawals of earnings are free from federal income tax, provided the Roth IRA has been in existence for five years and you are at least 59½.
  • Contributions can be withdrawn anytime without federal income taxes or penalties.
  • RMDs (Required Minimum Distribution) are not required.
  • Distributions for your beneficiaries are tax-free.

Why open a TD Ameritrade Roth IRA?

  • Breadth of Investment Choices - Including commission-free ETFs, no-transaction-fee mutual funds1, fixed income products, and much more.
  • Empowering Education - We offer exclusive videos, useful tools, and webcasts to help you create a personalized retirement plan.
  • Smart Tools – Plan and evaluate your retirement strategy with helpful tools like the IRA Selection Tool and Retirement Calculator.
  • Fair and Objective Research - Take control with objective third-party research provided by Morningstar Investment Management, CFRA (formerly S&P Capital IQ), and Market Edge


  • Roth IRA vs. Traditional IRA

     

    Need help deciding between a Roth IRA and a Traditional IRA? Try our IRA Selection Tool or view a comparison chart to find out which IRA is right for you.


  • Considering a Roth IRA conversion?

    Consider taking advantage of every savings strategy you can. Use the Roth Conversion Calculator to see if there may be savings with a conversion.


  • Keep your old 401k working for you

     

    Have you changed jobs or planning to retire? Learn about the benefits of rolling over your old 401k to a TD Ameritrade IRA.

Roth IRA Rules

Eligibility
To contribute, you must earn income. There are no age limits.
Income Limits

2023

If you are single, $153,000 or less

If you file jointly, $228,000 or less

 

2024

If you are single, $161,000 or less

If you file jointly, $240,000 or less

Contributions
Are not tax deductible
Maximum Contributions

2023

Up to age 50: $6,500

Age 50+: $7,500

Non-income-earning spouse: $6,500 (into a separate IRA)

2024

Up to age 50: $7,000

Age 50+: $8,000

Non-income-earning spouse: $7,000 (into a separate IRA)

Earnings
Grow tax-free
Distributions

Free from federal income tax when:

- The Roth IRA account has been open for at least 5 years

-You are age 59 1/2 or older

Required Minimum Distributions
Are never required
Early Withdrawals
Before age 59 1/2 are subject to a 10% penalty in addition to any ordinary income tax that may be due

Get in touch Call or visit a branch

Call us: 800-454-9272

175+ Branches Nationwide

Check the background of TD Ameritrade on FINRA's BrokerCheck