{"id":674317,"date":"2026-05-30T15:19:10","date_gmt":"2026-05-30T15:19:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/674317\/"},"modified":"2026-05-30T15:19:10","modified_gmt":"2026-05-30T15:19:10","slug":"how-to-open-a-roth-ira-in-2026","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/674317\/","title":{"rendered":"How To Open a Roth IRA in 2026"},"content":{"rendered":"

More Americans are saving for retirement<\/a> through individual retirement accounts<\/a> than ever before. New data from Fidelity<\/a> shows IRA contributions surged 29% year over year in the first quarter of 2026, while the number of account holders actively contributing reached a record high \u2014 up 28% from the same period last year.<\/p>\n

The gains were largely driven by strong interest in Roth IRAs<\/a>, which accounted for 67% of all contributions. Meanwhile, conversions to Roth accounts climbed 41% year over year.<\/p>\n

This growing interest in Roth IRAs certainly makes sense. Since contributions are made with after-tax dollars, investments in a Roth IRA can grow tax-free, and qualified withdrawals in retirement are also tax-free. Meanwhile, savers can withdraw their original contributions (not investment earnings) at any time without taxes or penalties, which offers added flexibility in an uncertain economy.<\/p>\n

Here’s how to jump on the Roth IRA bandwagon.<\/p>\n

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How to open a Roth IRA<\/p>\n

Opening a Roth IRA is fairly straightforward. Here’s what you need to know before you get started.<\/p>\n

Make sure you’re eligible<\/p>\n

To contribute to a Roth IRA, you need earned income, which means wages, salary or self-employment income. For 2026, single filers and heads of household can make a full contribution<\/a> if their Modified Adjusted Gross Income (MAGI) falls below $153,000, with the ability to contribute phasing out between $153,000 and $168,000. Married couples filing jointly phase out between $242,000 and $252,000.<\/p>\n

If your household income exceeds these limits, you still have the backdoor Roth IRA<\/a> route, which lets you contribute indirectly by converting money from a traditional IRA<\/a>.<\/p>\n

Choose a brokerage<\/p>\n

Many of the big-name brokerages offer Roth IRAs<\/a>, such as Charles Schwab<\/a> and Fidelity<\/a>. You can also find them at robo-advisors<\/a> like Betterment<\/a> and Wealthfront<\/a>. Online brokerages like Ally<\/a> offer Roth IRAs, too.<\/p>\n

Opening an account online should take only about 10 to 15 minutes. You’ll need your Social Security number, a government-issued ID and a bank account to fund it.<\/p>\n

Know how much you can contribute<\/p>\n

The IRA contribution limit in 2026<\/a> (which includes traditional and Roth IRAs) is $7,500 total if you’re under age 50, or $8,600 if you’re 50 or older. The deadline to contribute for a given tax year is April 15 of the following year, so you’re not on a strict calendar-year deadline.<\/p>\n

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