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Shrink Your Taxes. Grow Your Retirement.

Learn how an IRA can help you do both — in just minutes.

Why open an individual retirement account (IRA)? There are numerous reasons, but here are two of our favorites.

1. Save on taxes

Because contributions to an IRA are tax-deductible, an IRA can trim your tax bill — all the way up to tax day itself.

2. Boost your savings

The tax savings is a nice immediate perk, but the main benefit of an IRA is the way it helps you save for your future.


Standout IRA providers for DIY investors

With low costs and advanced research tools, these brokers are perfect for those who want to manage their own portfolios.

BrokerHighlightsCommissionsAccount MinimumCurrent OffersStart Investing
Merrill Edge
Merrill Edge
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Breadth of research from other providers and own offering
Commissions
$6.95
per trade
Current Offers
$100-$600
in cash bonus with a qualifying deposit
Open an account
on Merrill Edge's secure website
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TD Ameritrade
TD Ameritrade
Show Details
Top research; two powerful trade platforms; educational content
Commissions
$6.95
per trade
Current Offers
$100-$600
in cash bonus with a qualifying deposit
Open an account
on TD Ameritrade's secure website
Show Details
Etrade
Etrade
Show Details
Large selection; reasonable commissions and fees
Commissions
$6.95
per trade
Current Offers
60
days of commission-free trades with a qualifying deposit
Open an account
on Etrade's secure website
Show Details

Standout IRA providers for hands-off investors

Put your investments on autopilot. These robo-advisors offer portfolio management — informed by computer algorithms and your personal investing preferences — at an affordable rate.

BrokerHighlightsCommissionsAccount MinimumCurrent OffersStart Investing
Betterment
Betterment
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Offers access to human advisors for additional fee.
Commissions
0.25%management fee
Current Offers
Up to 1 year
of free management with a qualifying deposit
Open an account
on Betterment's secure website
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Wealthfront
Wealthfront
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Free management of first $15,000; advanced tax optimization strategies.
Commissions
0.25%management fee
Current Offers
$15,000
amount of assets managed with no fee
Open an account
on Wealthfront's secure website
Show Details
Wealthsimple
Wealthsimple
Show Details
Socially responsible investments; free tax-loss harvesting
Commissions
0.4%management fee
Current Offers
$50
cash bonus with deposit of at least $1,000 in first 30 days
Open an account
on Wealthsimple's secure website
Show Details

Want to see more providers?

Review our rankings of the top IRA brokerages of 2018.

Need more resources?

See our library of IRA FAQs to find answers to your questions.

How much can I contribute to an IRA?

How is an IRA different from my 401(k)?

Should I consider a Roth IRA instead of a traditional IRA?

What do I need to open an IRA?

 


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NerdWallet does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. Examples are hypothetical, and we encourage you to seek personalized advice from qualified professionals regarding specific investment issues. Our estimates are based on past market performance, and past performance is not a guarantee of future performance.
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However, the results of our tools and editorial reviews are based on independent quantitative and qualitative assessments of product features – nothing else. Our partners cannot pay us to guarantee favorable opinion in any editorial content.