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Maximize the potential growth of retirement assets
Contributions and earnings accumulate tax deferred and may experience growth through compounding.
Hypothetical growth of systematic $6,000 annual investments into a Roth IRA versus a taxable account
Fidelity Advisor Roth IRA Details
Clients who may want to:
- Diversify tax treatment of retirement assets
- Reduce or avoid RMDs and taxes at retirement
- Leave tax-free income to beneficiaries
- Supplement other retirement savings
- Convert their Traditional, SEP, or SIMPLE IRA to a Roth1
- Roll over 401(k) assets1
- No age limit; must have compensation
- Maximum modified adjusted gross income for annual contributions:
- For single filers: In 2023: Up to $138,000 ($138,000 to $153,000 for a partial contribution)
- For joint filers: In 2023: Up to $218,000 ($218,000 to $228,000 for a partial contribution)
- No income limits; married couples filing separately are also eligible
- Over 150 Fidelity Advisor Funds®
- Lesser of 100% of compensation or $6,500 if under age 50; $7,500 if age 50 or older2
- Maximum contribution is reduced by any amount contributed to a Traditional IRA for the same year
- Spousal IRA for nonworking spouse: $6,500; $7,500 if spouse is age 50 or older2
- Contributions are not tax deductible
- Established and funded prior to the individual's tax filing deadline (no extensions) for contributions to be applied to previous tax year
- Distributions are tax and penalty free if taken after a five-year aging period AND:
- after age 59½
- for first-time home purchase ($10K lifetime limit)
- in the event of disability or death
- If the above requirements are not met, distributed earnings may be subject to income tax as well as a 10% early withdrawal penalty
- No required minimum distributions
- Qualified charitable IRA distributions
- All distributions are tax free provided certain requirements have been met
- Contributory assets up to $1 million may now be protected from creditors3
- No required minimum distributions during the IRA owner's lifetime
- Flexible distribution options for estate planning and tax management
Get Started with Your Clients
- 1. Shareholders will owe income tax on any taxable portion of the amount that is converted.
- 2. These amounts are subject to annual cost-of-living adjustments.
- 3. Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Please consult with legal counsel to determine how this law applies to your particular situation.
- Depending on your firm's policy, you can use the Fidelity Advisor IRA or invest in Fidelity Advisor Funds through your platform.
- The above information is educational in nature and should not be construed as legal or tax advice.