Opening an account is easy and fast. In fact, you can open your account in as little as 5 minutes. We make the process easy, and best of all- free.
The two most common individual retirement accounts are the Traditional and Roth IRA. Take a look at the table below to compare and contrast which plan is right for you:
| Traditional IRA | Roth IRA | |
|---|---|---|
Contributions | Contributions may be tax deductible with a maximum contribution of $5,500 ($6,500 if age 50 or older) | After-tax-contributions grow tax and penalty free with a maximum contribution of $5,500 ($6,500 if age 50 or older) |
Earnings | May grow tax deferred, and are taxed upon withdrawal | May grow tax deferred and are not taxed upon withdrawal (after age 59 1/2) |
Income | No income limitation | Adjusted gross income has limitations |
Distributions | RMDs start at age 70 1/2 | No RMDs during the lifetime of the original account owner |
Rich Uncles will cover the first year’s $100 annual account fee, plus the $48 asset fee for the Rich Uncles investment, if the investor makes a minimum contribution/transfer/rollover of $25,000 at account opening. Rich Uncles will continue to cover the annual fees with minimum contributions/transfers/rollovers of $2,500 or more each subsequent year. If the investor does not make additional contributions/transfers/rollovers of $2,500 or more, the investor will be charged annual fees in accordance with Rich Uncles’ Fee Schedule.