Am I ready to open a Retire account?
Everyone’s circumstances are different, so it’s hard to say when it’s the right time for you to open your Stash Retire account. Keep in mind that a Retire account is meant to invest for your future, which means you should probably plan on waiting until you’re at least 59.5 before you withdraw the money saved in this account. If you take money out of your IRA early, or close your account, you may face penalties and/or fees from the IRS.
Want to take a deeper dive? Here’s why some people are choosing to open a Stash Retire account.
If you do decide to open a Retire account, you should know that we offer two types of accounts, a Roth IRA and a Traditional IRA. When you’re opening your account, we’ll ask you some questions to help you figure out which is right for you.
We always recommend speaking to an accountant or tax professional to figure out which type of account will give you the best benefits for your circumstances.
Stash does not monitor whether a customer is eligible for a particular type of IRA, or a tax deduction, or if a reduced contribution limit applies to a customer. These are based on a customer’s individual circumstances. You should consult with a tax advisor.
Related questions View all Retire
Q. The New Stash Banking—What’s New and What Changed
Beginning in fall 2022, Stash will be switching banking providers. This move will provide more autonomy for Stash in banking decisions, and will provide more benefits to customers. You can read about our decision here. You may be wondering—what steps do I need to take after I’ve transitioned my banking account?…
Q. Need to upload documents to verify your identity when opening a Stash account?
During the course of signing up for your new Stash account, we may ask you for proof of identity via either your driver’s license or passport. Why do we need this information? The USA Patriot Act requires us to verify your identity—it helps us keep all 6+ million Stashers safe,…
Q. What is happening to my Stash Banking Account issued by Green Dot Bank?
What is happening to my Stash banking account issued by Green Dot Bank? We are switching to a new banking partner. The transition is easy. We’ll transfer your funds automatically in just a few minutes. If you do not complete the transition,…
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.
Debt and Equity: What Every Smart Investor Needs to Know
You can invest in debt & in equity, but do you really know what that means? We break down the jargon.