Opening an IRA on Stash
If you opted to skip opening an individual retirement account (IRA) when you signed up for Stash, or started signing up but didn’t finish, you can still sign up for this account at any time from within your Stash account. Stash offers two types of IRAs: Roth and Traditional.
Anyone looking to save money for retirement can open an IRA with Stash, even if you already contribute to an employer-sponsored retirement plan (401k), or have an IRA somewhere else. All you need is $5 to get started!
Roth and Traditional IRAs have different tax implications, so you may want to consult with a tax professional before opening your IRA. There are also limits to the annual contribution you can make, depending on your age.
How do I open my IRA?
Follow these steps to sign up for an IRA on the Stash app:
- Login to the Stash app.
- Tap Investing at the bottom of the screen.
- Tap Set Up next to Retirement Portfolio.
- Follow the prompts to open your IRA.
Still need help opening your IRA, or have additional questions? Please call us at 800-205-5164 from 8:00 a.m.-8:00 p.m. ET Monday-Friday, and from 10:00 a.m.-6:30 p.m. ET Saturday and Sunday, or email us at email@example.com.
Roth IRA: Withdrawals of the money (Contributions) you put in are penalty and tax free. Prior to age 59 1/2 , withdrawals of interest and earnings are subject to income tax and 10% penalty. All earnings are tax free at age 59 ½ or older, assuming your first contribution was more than 5 years prior. Income Eligibility applies.
Traditional IRA: Withdrawing prior to age 59 ½, generally means you’re subject to income tax and a 10% penalty. Withdrawals after age 59 ½ are only subject to income tax but no penalty.
Related questions View all Retire
Q. Everything you Need to Know about Dividends
A dividend is a payment to a shareholder when a company shares its profits. The amount of dividends you receive will be proportional to the amount of stock you own in that company. Dividends are usually paid in cash (not additional stock),…
Q. Why am I receiving an authentication code from Stash and how do I stop it?
Keeping your information secure is our top priority. Two-factor authentication (2FA) will send a confirmation code as a text/SMS message, email, or phone call. This helps protect your Stash account by requiring a security code in addition to your password when you log in. …
Q. Managing Your Stock-Back® Debit Card
Stash makes managing your Stock-Back® Debit Mastercard® easy. You can order a new card, activate your card, How can I order a new card? You can easily order a replacement Stock-Back® Card1 24/7 right from your Stash account.…
Didn’t find your question?
Tell us what you’re looking for, and we’ll search for resources that could help.Ask your question
Fiduciary 101: Why it’s Our Job to be Your Advocate
It’s a big word that means a lot when it comes to handling your money. It defines a relationship built on trust and duty.