An easy way to IRA

FAQs

• How does Fidelity Go^® work?

  With Fidelity Go^® you'll start by telling us about yourself and your individual financial goals so we can suggest an investment strategy for your account. Once your account is open, you can add money through either one-time or recurring transfers. Once your account balance reaches $10, we'll start investing for you in accordance with your goal, helping you track your progress along the way. Each year, we'll check in with you to ask if anything major in your life has changed, and if necessary, we'll adjust your investment strategy to fit with your new situation. And remember that this is a relationship. So if your needs change at any time, you can let us know and we can help by making changes consistent with your new goal.

  Additional features:

  • All customers have access to our online planning tools, and once your account balance reaches $25,000, you'll also have access to unlimited 1-on-1 financial coaching sessions with a team of advisors. Whether you need help creating a budget, paying down debt, planning for retirement, or investing for your future, you'll have the comfort of knowing that 1-on-1 advice from Fidelity is just a call away.
  • For taxable accounts with a balance of at least $25,000, we'll look for tax-loss harvesting opportunities in your Flex Funds that hold stocks, which can help you lower your tax bill.
• How much does Fidelity Go^® cost?

  Fidelity Go^® charges no advisory fees while your account balance is under $25,000. Once your balance reaches $25,000, you'll be charged a 0.35% advisory fee per year, which will give you access to financial coaching sessions and, for taxable accounts, tax-loss harvesting. Either way, there are no trading fees, transaction fees, or rebalancing fees.

• What's a robo advisor?

  A robo advisor is an affordable digital financial service that uses technology to help automate investing based on information investors provide about themselves and their financial situation. "Robo" refers to these services being almost completely digital, and that computers, smartphones, or tablets are used to access and interact with your accounts. "Advisor" speaks to the investment advisors that offer digital advice and account management services, often for a lower fee than traditional investment advisory services.

• How do robo advisors work?

  Robo advisors use various pieces of information about an investor to suggest an investment strategy. In most cases, you'll first answer some questions online or through an app about yourself and your current financial situation. A robo advisor then uses that information to suggest an investment strategy for your financial goals. Investment strategies can include a mix of different types of investments, and many robo advisors include account rebalancing services to help your investments stay in line with your financial goals and preferences.

• How does coaching work with Fidelity Go^®?

  Once your Fidelity Go^® account reaches $25,000 you will have access to unlimited 30- minute coaching calls on specific topics with our trained advisors.

  On your 1-on-1 phone calls with a Fidelity advisor, you'll be able to discuss a financial plan for the future. During your conversations, an advisor will get to know what's important to you, work with you to prioritize your financial goals, and explain the importance of creating a financial plan to help make progress toward reaching them. You'll also get clear next steps so that you have tasks to complete and milestones to reach between each call.

• What is a Roth IRA?

  A Roth IRA is a tax-advantaged account where you make after-tax contributions and withdraw those contributions tax-free and penalty-free at any time and for any reason. Earnings on those contributions can be withdrawn tax-free and penalty-free once you are age 59½ or older, and at least five years have elapsed since the beginning of the tax year when you made your first contribution. Withdrawals can also be made without penalty if you are eligible for one of several exemptions, including disability, qualified first-time home purchase, or qualified education expenses, among others.

• What is a rollover IRA?

  A rollover IRA is a retirement account designed to hold funds you roll over from a former employer-sponsored retirement plan, such as a 401(k). A rollover typically occurs when you change jobs or retire, keeping your money’s tax-deferred status.

• How is a Roth IRA different from a traditional IRA?

  With a Roth IRA, you contribute money that's already been taxed (that is, "after-tax" dollars). Any earnings in a Roth IRA have the potential to grow tax-free as long as they stay in the account. Withdrawals of earnings from Roth IRAs are federal income tax-free and penalty-free if a 5-year aging period has been met and the account owner is age 59½ or over, disabled, or deceased. Roth IRAs are not subject to required minimum distribution (RMD) rules during the lifetime of the original owner, so you can leave your assets in the Roth IRA where they have the potential to continue to grow.

  With a traditional IRA, contributions can be made on an after-tax basis, or a pre-tax (tax-deductible) basis if certain requirements are met. Any earnings in the traditional IRA are tax-deferred as long as they remain in the account. Withdrawals of pre-tax money are subject to ordinary income tax when withdrawn. Your first RMD from a traditional IRA is required no later than April 1 of the year following the year in which you turn age 73. If you wait until April 1, you will then be required to take your second distribution by the end of that year.

  For both types of IRAs, distributions before age 59½ may be subject to both ordinary income taxes and a 10% early withdrawal penalty. For a detailed comparison, view the traditional vs. Roth comparison table.

• What are the contribution limits for IRAs?

  The annual contribution limit for IRAs, including Roth and traditional IRAs, is $7,000 for 2025 and $7,500 for 2026. If you're age 50 or older, you can contribute an additional $1,000 for 2025 and $1,100 for 2026.

• What is a SEP IRA and who is eligible for one?

  Simplified Employee Pension Plans (SEP IRAs) help self-employed individuals, small business owners, and employees of small businesses get access to a tax-deferred benefit when saving for retirement. Employer contributions to SEP IRAs can vary from 0% to 25% of compensation (a maximum of $69,000 for 2024 and $70,000 for 2025 for each account owner). These contributions must come from the net earnings of the business and are only tax-deductible on the business's tax filing.

  If you're an employee of a small business, contributions must be funded by your employer. If you're an employer contributing on behalf of your employees, you must contribute the same percentage for each eligible employee.

  While SEP IRA contributions and growth are tax-deferred, withdrawals are subject to taxation at the account owner's applicable income tax rate. Check with your tax advisor for your specific contribution limit.

• Can I convert an existing Fidelity brokerage or retirement account to a Fidelity Go^® account?

  If you have an eligible Fidelity brokerage or retirement account, you can convert it to Fidelity Go^®. When converting an account, you will retain your existing account number, along with other features like beneficiary designations, automatic deposits, and automatic withdrawals, if applicable.

  If you choose to open an account, we’ll display any Fidelity accounts that are eligible to be converted. Only certain accounts can be converted at this time.

• What kinds of investments can I expect to find in my Fidelity Go^® account?

  Your account will hold a combination of Fidelity Flex^® mutual funds. These funds generally hold domestic stocks, foreign stocks, bonds, or short-term investments. Depending on your investment strategy and your account, we'll choose which funds we think will help you meet your goals.

• What are Fidelity Flex^® funds?

  Fidelity Flex^® funds are a lineup of Fidelity mutual funds that have zero expense ratios, and include proprietary active and passive funds. Flex funds are currently available only to certain fee-based accounts offered by Fidelity, like Fidelity Go^®. Unlike many other mutual funds, the Flex funds do not charge management fees or, with limited exceptions, fund expenses. Instead, a portion of the advisory fee you pay is allocated to access the Flex funds in which your account will be invested.