Retirement Accounts

Take control of your financial future with an Individual Retirement Account (IRA). Explore the retirement account options below and take advantage of potential tax benefits offered by IRAs.

1. Traditional IRA

A Traditional IRA is available to individuals with earned income, or those filing jointly with a spouse who earns income. In 2025, eligible individuals may contribute up to $7,000 in tax-deferred earned income. Typically, earnings grow tax-deferred and are taxed at your ordinary tax rate upon withdrawal, once age requirements are met. Early withdrawals may incur penalties. Consult a tax professional for personalized advice.

You can also roll over external retirement accounts, such as a 401(k), into a tastytrade IRA. This allows you to transition your employer-based retirement account to a Traditional or Roth IRA, depending on your plan’s specifications.

2. Roth IRA

A Roth IRA is only available to eligible individuals with earned income. Contributions are made with after-tax dollars, allowing you to withdraw contributions tax-free and penalty-free at any time. Earnings can also be withdrawn tax-free and penalty-free for qualified distributions. Annual contribution limits are determined by the IRS subject to change. Consult a tax professional for more details and advice.

Like a Traditional IRA, you can roll over a 401(k) Roth or similar external retirement account into a tastytrade Roth IRA, giving you greater control over your retirement funds.

3. SEP-IRA

A Simplified Employee Pension (SEP) IRA is designed for self-employed individuals and small business owners or employees. Earnings grow tax-deferred and are taxed at your ordinary income rate upon eligible withdrawal. Consult a tax professional for further details and advice.

4. Beneficiary Traditional IRA

A Beneficiary Traditional IRA is established when a designated beneficiary inherits a Traditional IRA after the original account holder's passing. Contributions are typically made with pre-tax dollars, allowing earnings to grow tax-deferred, and withdrawals are taxed at your ordinary income rate. Consult a tax professional for additional guidance.

5. Beneficiary Roth IRA

A Beneficiary Roth IRA is created when a beneficiary inherits a Roth IRA after its original owner has passed away. Similar to the original Roth IRA, this account allows required minimum distributions to be taken tax-free in most cases. Consult a tax professional for more details.