Charles Schwab

Welcome to the 15-minute IRA

Open a Schwab IRA by April 15: ROTH / Traditional

2008 IRS tax deadline 00 days.

Frequently asked IRA questions

What’s an IRA and why have one?
An Individual Retirement Account (IRA) is one of the best ways to save for retirement. Your IRA contributions can grow on either a federally tax-free or tax-deferred basis, which lets earnings in the account compound over time. Money in tax-smart accounts like IRAs and 401(k)s can compound faster than money in taxable accounts.

What’s the benefit of starting early?
When you start early, even small IRA contributions can have a big impact on your future due to the power of compounded growth. Money in your IRA is not taxed, which means your savings can grow much faster than in a taxable account. So by investing early in an IRA, you can earn more over time than you could in a regular savings account. While it’s never too late to start, the later it gets, the more you may have to put away to reach your goal.

If I have a 401(k), should I still open an IRA?
To save as much as possible for your retirement, it’s best to max out both your 401(k) and IRA. Can’t afford to fully fund both? Consider contributing to your 401(k) at least up to the amount your employer matches. Then contribute to either a Traditional IRA, which typically offers more investment choices than a 401(k), or a Roth IRA, which grows tax-free. For more information, read about how to maximize your retirement contributions.

What are the 2008 and 2009 IRA contribution limits?
  • Under age 50: $5,000
  • 50 or older: $6,000
What are the fees and minimums for an IRA?
The minimum to open an IRA at Schwab is $1,000—or $0 if you set up an automatic monthly transfer of at least $100. And there are no account service fees or minimum balance fees.

What are my IRA investment choices?
You can select from a wide range of mutual funds, stocks, bonds, CDs, and more. Or, to choose the right investments for your IRA quickly and easily, consider Schwab Target Funds—our already-diversified, all-in-one retirement solution.

What are retirement target date funds?
Retirement target date funds (or just target funds) are actively managed mutual funds that adjust over time as you approach retirement. They’re one of the easiest ways to invest your IRA. With smart and simple Schwab Target Funds, just pick the fund closest to your retirement date—whether 2010, 2020, 2030, or 2040—and let us take care of the rest. Your fund will automatically reduce risk as your retirement date nears. To invest in a Schwab Target Fund for your IRA, just choose the one closest to your retirement date on your IRA application.
Learn more about Target Funds.

What do I need to complete my application online?
  • Social Security number
  • Driver’s license number
  • Employer’s name and address (if applicable)
  • Beneficiary’s Social Security number and contact information
  • Statement from your bank or other financial institution if you’re transferring assets or cash to fund your new Schwab IRA online (recommended)

Get Started

Open your Schwab IRA now:

 

Helpful Tools

Estimate your savings needs for retirement with our Retirement Savings Calculator.

Why Choose Schwab

  • Easy To Open

    Open your account online in just 15 minutes.
     
  • Easy To Afford

    Low $1,000 minimum;
    no account service fees.*
     
  • Easy To Get Help

    Call 800-548-5576.
     
  • Easy To Contribute

    to an existing Schwab IRA (client login required).
 
Does an IRA make a difference