Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.
Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.
Fidelity does not provide legal or tax advice. The information herein is general in nature and should not be considered legal or tax advice. Consult an attorney or tax professional regarding your specific situation.
1. MedRxIV, Changes in Life Expectancy Between 2019 and 2021: United States and 19 Peer Countries, April 2022
2. Fidelity Press Release, Fidelity Releases 2022 Retiree Health care Cost Estimate: 65-Year-Old Couple Retiring Today Will Need an Average of $315,000 for Medical Expenses
3. TIAA Institute, Women are facing a Retirement Crisis, July 2022
4. No account fees or minimums to open Fidelity retail IRA accounts. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs), and commissions, interest charges, and other expenses for transactions, may still apply. See Fidelity.com/commissions for further details.
5. For a distribution to be considered qualified, the 5-year aging requirement has to be satisfied, and you must be age 59½ or older or meet one of several exemptions (disability, qualified first-time home purchase, or death among them).
6. A distribution from a Traditional IRA is penalty-free provided certain conditions or circumstances are applicable: age 59 1/2; qualified first-time homebuyer, up to $10,000; birth or adoption expense (up to $5,000); qualified higher education expense; death or disability; health insurance premiums (if you are unemployed); some unreimbursed medical expenses; substantially equal periodic payments; or tax levy.
7. For 2024, full deductibility of a contribution is available to covered individuals whose 2024 Modified Adjusted Gross Income (MAGI) is $123,000 or less (joint) and $77,000 or less (single); partial deductibility for MAGI up to $143,000 (joint) and $87,000 (single). In addition, full deductibility of a contribution is available for non-covered individuals whose spouse is covered by an employer sponsored plan for joint filers with a MAGI of $230,000 or less in 2024; and partial deductibility for MAGI up to $240,000. If neither you nor your spouse (if any) is a participant in a workplace plan, then your traditional IRA contribution is always tax deductible, regardless of your income.
8. Exceptions include: first-time home purchase, qualified educational expenses, death, disability, unreimbursed medical expenses, health insurance if you are unemployed. Per the SECURE Act of 2019, as of 1/1/20, upon birth or adoption of a child, a IRA owner may withdraw up to $5,000 penalty-free from a Traditional IRA. Such distributions can be repaid
9. By making an IRA contribution to a Rollover IRA you may be commingling qualified plan assets (i.e., 401(k), 403(b) and/or governmental 457(b) plan assets) within your rollover IRA with annual IRA contributions. If you want the option of rolling eligible assets from your IRA into another employer-sponsored retirement plan in the future, you may want to consider keeping separate IRA accounts for each retirement plan type that you are rolling over.
10. Fidelity's Planning and Guidance center allows you to create and monitor multiple independent financial goals. While there is no fee to generate a plan, expenses charged by your investments and other fees associated with trading or transacting in your account would still apply. You are responsible for determining whether, and how, to implement any financial planning considerations presented, including asset allocation suggestions, and for paying applicable fees. Financial planning does not constitute an offer to sell, a solicitation of any offer to buy, or a recommendation of any security by Fidelity Investments or any third-party.
11. No account fees or minimums to open Fidelity retail IRA accounts. Expenses charged by investments (e.g., funds, managed accounts, and certain HSAs), and commissions, interest charges, and other expenses for transactions, may still apply. See Fidelity.com/commissions for further details.
12. There is no minimum amount required to open a Fidelity Go account. However, in order for us to invest your money according to the investment strategy you've chosen, your account balance must be at least $10. The Fidelity Go program advisory fee is calculated and charged at the account level.
Fidelity Brokerage Services LLC, Member NYSE, SIPC, 900 Salem Street, Smithfield, RI 02917
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