Annual contribution limits for your combined IRAs are adjusted periodically by the IRS. You can contribute up to $5,500 ($6,500 if age 50 or older) in 2018 and $6,000 ($7,000 if age 50 or older) in 2019.
All or part of your contributions may be tax-deductible, which may reduce your taxable income each year you make a contribution.
Your contributions may accumulate earnings and grow tax-deferred until you begin taking withdrawals in retirement, and by then, you could be in a lower tax bracket.
There are no income limit restrictions on eligibility to contribute. But you must have taxable compensation and there could be a limit on tax deductions if you are also contributing to a 401(k).
You must begin taking required minimum distributions (RMDs) for the year you reach age 70½.
Low Fees and Minimums
You need to maximize your return potential, so we work to keep our fees competitive. That’s why our solutions include no-load mutual funds with low expense ratios. Keep in mind that an IRA may be subject to an annual fee, and a fee may be assessed when an IRA is closed. Here’s more information on fees.
A Global Investing Network in Pursuit of Your Goals
Our highly tenured global investment professionals are continuously assessing potential risk, while identifying opportunities to maximize growth potential over the long term.
Many of Our Funds Earn Morningstar's Highest Ratings
Over 65 of our funds have earned 4- or 5-star Overall Morningstar Ratings as of 7/31/19.*
Roll over a 401(k)1
Moving a traditional 401(k)?
A traditional IRA may potentially provide you with greater flexibility, lower or fewer fees, and a wider range of investment options compared with your former workplace retirement plan.
Transfer an existing IRA
Moving a traditional IRA?
You can transfer a traditional IRA from another financial institution directly into a T. Rowe Price Traditional IRA—in one tax-free step.