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IRA Max Out Disclosures

This tool is intended to help you decide whether you are eligible to make contributions to an Individual Retirement Account (IRA) for a particular tax year and, if so, whether a Roth or Traditional IRA is best for you. If you provide us with inaccurate or incomplete information about contributions that you have made to non-Betterment accounts, our recommendations will not reflect your personal situation. In some cases, it may be better to fully fund an employer-sponsored retirement plan before funding an IRA. For guidance on that choice, please use the “How to Save” tool in RetireGuide and make sure to add all of the retirement accounts you have access to. If your employer plan, such as a 401(k), includes a match, we generally recommend contributing to your 401(k) before contributing to IRAs. This tool does not consider the impact of Requirement Minimum Distributions or early withdrawal penalties that may apply to IRAs. This tool assumes that there will not be changes in the legal treatment of IRA contributions or individual income tax rates. Any such changes could impact our recommendations. If your tax rate is assumed to be the same in retirement as it is now, we recommend a Roth IRA. This tool should not be considered personal tax advice. Contact a qualified tax advisor to understand your personal tax situation.