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Best IRAs 2021: Compare IRA Retirement Plans

We compare the best IRAs in 2021. Find an IRA retirement plan that works for you. With Financer.com you can:

  • Compare the best IRAs
  • Learn more about investments
  • Compare IRA rates and benefits
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The Best IRAs 2021: A Comparison

Company Overall Rating Fees Account Minimum Promotion Benefits Get Started
4.5 None $0 Free career counseling plus loan discoun... Show more Broad range of low-cost investments
N/A 0.25% annually $0 Up to 1 year of free management with a q... Show more Multiple portfolio options and customiza... Show more
N/A $1 - $9 per month $0 None Portfolio mix that factors women’s needs... Show more
N/A None $0 None Excellent web and mobile platforms
N/A None $0 None Excellent education for beginners
N/A 0.0% to 0.3% annually $100 None Commission-free trades on eligible U.S. ... Show more
N/A None $0 None Excellent tools for ESG research
N/A 0% - 0.35% annually $0 None Excellent mobile app for investors
N/A None $0 None Best for hands-on investors
N/A None $0 None Fractional shares available
N/A None $0 None Unlimited $0 online trades
Company Overall Rating Fees Account Minimum Promotion Benefits Get Started
4.5 None $0 Free career counseling plus loan discoun... Show more Broad range of low-cost investments
N/A 0.25% annually $0 Up to 1 year of free management with a q... Show more Multiple portfolio options and customiza... Show more
N/A $1 - $9 per month $0 None Portfolio mix that factors women’s needs... Show more
N/A None $0 None Excellent web and mobile platforms
N/A None $0 None Excellent education for beginners
N/A 0.0% to 0.3% annually $100 None Commission-free trades on eligible U.S. ... Show more
N/A None $0 None Excellent tools for ESG research
N/A 0% - 0.35% annually $0 None Excellent mobile app for investors
N/A None $0 None Best for hands-on investors
N/A None $0 None Fractional shares available
N/A None $0 None Unlimited $0 online trades

How to Compare the Best IRA Companies

How to Compare the Best IRA Companies
1
Compare Fees
Compare management fees for various IRAs.
2
Consider Account Minimums
Some IRA plans require account minimums.
3
Choose the Best IRA
Click Get Started to sign up.

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Choosing the Best IRA

Even if you already have a 401(k) retirement plan you can benefit from an IRA. Choose from IRA companies that you can trust, like banks, brokerage firms, or mutual fund companies. 

Consider how you want your money to be invested; mutual funds or ETFs? Want a customized investment plan? To skip unnecessary fees, go with a brokerage account.

Consider getting a CD, which many banks offer, as they are a safe bet. If you want annuities, go for an IRA from an insurance company.

Finally, keep an eye on management and fund fees. Opening an account may come with fees, and so can transfers and advisors.

Why Compare IRAs At Financer.com?

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Find The Cheapest & Best Rated IRAs
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What Is an IRA?

An individual retirement account (IRA) is a great way to save for your retirement - often with tax benefits. 

IRAs typically offer more choice when it comes to investments, which is important if you want the best returns for your savings over time.

To put this into perspective, if you put $6,000 into an IRA every year, after 25 years you would have more than $475,000 seeing that the average stock market return is 8% per year.

Opening an IRA account is easy and you can sign up in just 15 minutes online. Start now by comparing the best IRA providers with Financer.com.

Benefits of IRA Accounts

IRAs Are Easy to Set Up
IRAs Are Easy to Set Up
IRA Plans Offer Tax Benefits
IRA Plans Offer Tax Benefits
Access Your Money Early
Access Your Money Early
Anyone Can Contribute to an IRA
Anyone Can Contribute to an IRA

Different Types of IRA Plans

TypeDefinitionBest For
Traditional IRAThe most popular IRA and comes with tax benefits. People in higher tax brackets and those without access to a workplace-sponsored retirement plan.
Roth IRAWithdrawals in retirement are tax-free.People who anticipate being in a higher tax bracket during retirement.
SEP IRAA simplified employee pension, set up and funded by the employer.Small business owners who want a cheaper alternative than a conventional plan.
Nondeductible IRAAfter-tax dollars are used for contributions.People who don’t qualify to contribute to a deductible IRA or Roth IRA.
SIMPLE IRASavings Incentive Match Plan for Employees, similar to an employer-sponsored 401(k).Small businesses and the self-employed.
Spousal IRAAllows both people to contribute to an IRA even if one is not working.Non-income earning individuals married to someone earning an income.
Self-directed IRAYou can own assets like gold and real estate.Experienced investors looking for alternative investments.

Choosing an IRA Retirement Plan

Choosing the best IRA plans will depend on your unique needs, but the sooner you get started the better.

If you want long-term investment success, make sure you avoid high fees eating away at your returns. Open an IRA from a robo-advisor, bank, or broker that offers low fees.

If you are a do-it-yourself type of investor planning on using a broker, choose one with low trading commissions and low transfer fees.

If you need help and guidance on making the right investments, a robo-advisor may be a better option than a broker, with some offering ready-to-go portfolios.

Our Top IRA Accounts for 2021

Chosen 2 times
  • 0% management fee
  • Free career counseling plus loan discounts with qualifying deposit
  • $0 account minimum
  • Trade stocks, ETFs, crypto, and participate in IPOs
  • Management fee: 0.25% – 0.4%, depending on service level
  • $0 account minimum
  • ETFs from 14 asset classes
  • Digital and Premium plans available
  • Management fees $1 to $9 per month
  • 20 funds in the core portfolio
  • Individual taxable, Roth IRA, traditional IRA, SEP IRA and rollover IRAs
  • Best for women investors and social-impact investing
  • 0.0% fee with cash-enhanced managed portfolio
  • $100 account minimum
  • Integration for Ally bank and brokerage clients
  • Best for hands-off investors

Important

Please note that loan amounts, interest rates and other loan terms may vary according to your state and credit profile.

Got Questions? Get the Answers Here

How many IRAs can you have?
There is no limit to how many IRAs you can have. However, all the contributions of your IRAs can't exceed $6,000 in 2021 if you are younger than 50 years, or $7,000 if you are older than 50.
What is the best IRA plan?
The best IRA plan depends on your unique needs and this is why comparing IRA plans is so important. With so many IRA retirement plans available, you should compare the rates, account minimums, and other benefits before choosing the best IRA for your needs.
How much can you contribute to a Roth IRA?
Contributions to Roth IRAs are the same as traditional IRAs. For 2021, this is $6,000 annually or $7,000 for people over 50 years of age.
When can I withdraw from my IRA?
You can make withdrawals from your IRA at any time. However, your withdrawal will be included in your taxable income and may be subject to a 10% additional tax. At age 60, you can withdraw the entire balance tax-free providing that the IRA has been open for at least five years or more.
How much tax will I pay when withdrawing from my IRA?
When you withdraw from your IRA and you are under 60 years old, you will pay a 10% tax penalty, in addition to your regular income taxes.
Which bank has the best IRA?

Banks are not necessarily a better option than a robo-advisor or investment broker as you want to use the power of the stock market for long-term investments. With bank IRAs you'll have access to savings products like CDs (certificates of deposits). 

These products guarantee a return rate as long as you leave your money in them for a specific time. However, stock markets typically offer returns of around 8% to 10% a year, compared to CDs offering around 3%.

The stock market does come with risk but in general, investors who are in it for the long run generally enjoy large returns on their initial investments. 

However, if you want to go with a bank IRA, choose one that offers the best IRA CD rates so you can get the best return. Good options here include Discover and Ally Bank.

Can I lose money with an IRA?

Although very unlikely, it's possible for a retirement IRA account to lose value over time. But this is much more likely to happen if you invest money in single company stock.

To help prevent this, it's important that you diversify your investments where possible. Invest in more than one company - different industries, locations, and sizes - and choose both bonds and stocks.

This way, when one part of your investment doesn't perform, the rest can help keep your overall portfolio on track.

How quickly can I access my money?

Since an IRA is a retirement account, the money is meant to stay there until you are 59 1/2 years old. However, if you want to withdraw before then, you may be hit with a 10% tax penalty. In contrast, with a Roth IRA, you can withdraw at any time as you've already paid taxes on it.

Why is it called 'investing' in an IRA?

Unlike normal savings accounts, IRA plans don't pay out a specific return or interest rate. When you put money in your IRA, you have to choose an investment otherwise the money will simply be sitting as cash, and this is not ideal for a goal like retirement. 

Most IRA companies offer a wide range of choices for investments and this can include bonds, stocks, or mutual funds. If you are not familiar with the differences or not sure what to choose, opt for a r that can handle your investments on your behalf, for a minimal fee.

Can I open an IRA online?

Yes. You can open an IRA online with any robo-advisor or broker (compare our recommendations above) and it only takes about 15 minutes. You'll need to provide some basic information such as your name, Social Security number, birth date, and mailing address. 

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