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 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)|
|May grow tax deferred, and are taxed upon withdrawal||May grow tax deferred and are not taxed upon withdrawal (after age 59 1/2)|
|No income limitation||Adjusted gross income has limitations|
|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.