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Traditional and Roth IRA

Investing for Retirement Made Easy

  • Start in just minutes

  • Automate deposits that can be paused

  • Leverage potential tax benefits

  • Get a diversified ETF portfolio

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What is an IRA?

Individual Retirement Accounts (IRAs) help people save and invest for their retirement while enjoying certain tax advantages. IRAs can be used by individuals who are self-employed, own a business, or simply want to invest with tax benefits. To encourage people to save long-term, the IRS imposes a penalty to withdrawals before the age of 59 ½.

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  • Get your tax benefits upfront

  • Don’t pay income tax on the money you put in

  • You pay income tax when you withdraw

  • Best if you already have an emergency fund

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  • Get your tax benefit when at retirement

  • Pay income tax in the money you put in

  • No income taxes for withdrawals after age 59½

  • Can be used in case of an emergency

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You don't need to be an expert to invest your money successfully. Finhabits does that for you.

Traditional IRA vs Roth IRA

Funded with


Contribution Limits

 

Withdrawal Age*

Income Limits (2023)**

Roth

IRA

 

After-tax dollars

$6,500 ($7,500 if age 50 or older)

 

Age 59½ and over

Modified AGI single $153,000/married $228,000

Traditional

IRA

 

Pre-tax dollars

$6,500 ($7,500 if age 50 or older)

 

Age 59½ and over

No income limits to participate

* Roth IRA: Early distributions or withdrawals of contributions and earnings could avoid tax penalties provided it is a qualified exception such as unreimbursed medical expenses, first-time home purchase, qualified educational expenses, death, disability, and health insurance costs, if unemployed. Traditional IRA: There are no income limits for Traditional IRAs, but there are income limits for tax-deductible contributions. Other rules apply to both IRAs. Please consult with a tax expert for more details.

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Security is everything

We manage your data with the same care as a bank.

There’s nothing more important to us than keeping your money and personal information safe and sound.

 

Finhabits is an SEC-registered investment advisor. With Finhabits, you can count on bank-level security that includes a 265-bit SSL-encrypted connection on our site.

 

And you can rest easy, since your money is held in accounts insured up to $500,000 by SIPC.

How can you start investing?

1

Download the Finhabits app

You can get started in Spanish or English. Our service is 100% bilingual.

2

Register with your SSN or ITIN

Select an investment portfolio: Conservative, Aggressive, or Recommended.

3

Schedule your deposits

Finhabits lets you connect your bank account to your Finhabits account within seconds.

Download Finhabits

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You don't need to be an expert to invest your money successfully. Finhabits does it for you.

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More than 80,000 people have already invested with Finhabits!

Our services include:

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Automated deposits

Finhabits lets you schedule weekly, biweekly, or monthly deposits. You can start with $10, $100, or $1,000. You decide!

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Bilingual mobile app

Use Finhabits to monitor your investment accounts and manage your deposits and withdrawals.

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Dividend reinvestment

All the dividends you earn are reinvested to purchase more shares. This helps accelerate the power of long-term compounding in your investments.

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Educational videos and podcasts

Learning about money and financial habits can be difficult. That’s why the Finhabits app includes educational videos and podcasts about building good financial habits.

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Portfolio rebalancing

Finhabits rebalances your portfolio regularly to ensure an appropriate asset mix for your investments.

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Bilingual support

Our team is based in the U.S. and is ready to help you in both English and Spanish!

Frequently asked questions

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If you've scrolled this far, it's because you care about your future

Invest your money with a real strategy
Take the first step today.

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