Robo-advisors are going beyond the typical welcome bonus for new account holders — you can now earn a match on your IRA contributions up to 3%. On a one-time contribution of $5,000, for example, a 3% match would mean an extra $150 into your account.
A match is great any time of the year, but it's particularly helpful if you haven't filed your taxes yet. Funds contributed to your traditional IRA before this year's tax deadline can lower your 2024 taxable income because they are tax deductible.
You can contribute up to $7,000 annually into an IRA — or an additional catch-up contribution of $1,000 if you're 50 or older. And any match that the brokerage makes does not count toward your yearly contribution limit.
Here are the robo-advisors offering a match on your IRA contributions.
Robo-advisors offering an IRA match
Acorns
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum required to open an account, $5 minimum to start investing
Fees
Fees may vary depending on the investment vehicle selected. Monthly plans include: Bronze ($3 per month), Silver ($6 per month), and Gold ($12 per month)
Bonus
None
Investment vehicles
Robo-advisor:Acorns InvestIRA:Acorns Later includes Traditional, Roth, SEP IRAs, 401(k) Rollover Investment accounts for kids:Acorns Early
Investment options
Diversified ETFs which include more than 7,000 stocks & bonds
Educational resources
"Money Basics" blog and Grow + CNBC website
Terms apply.
With a Gold subscription at Acorns, you can score a 3% IRA match on any new contributions during your first year of membership. If you're under 50 and max out your annual IRA contribution at $7,000, that's an extra $210. Acorns Silver members get a 1% IRA match, which amounts to an extra $70. Your contributions have to stay in your account for at least four years to earn the match (otherwise Acorns will claw the matching funds back).
Robinhood Retirement
Minimum deposit and balance
There is a $20 minimum to invest in the portfolio Robinhood recommends to you
Fees
Robinhood doesn't charge any management fees or commission fees for the IRA account. However, an IRA Match Early Withdrawal Fee may apply in some circumstances
Bonus
The Robinhood IRA offers a 1% match on eligible contributions up to IRA contribution limits. Limitations apply.*
Investment vehicles
Traditional IRA and Roth IRA
Investment options
Stocks and ETFs (users can invest in Robinhood's selection of 5–8 recommended ETFs, pick their own, or do a combination of both). According to the website, eligible users will soon be able to trade options in their IRA
Educational resources
Robinhood offers education materials on their website
Terms apply. Does not apply to crypto asset portfolios.
*The IRA Match is automatically added after eligible contributions from an external bank account. Keep the contributions in your IRA for at least 5 years from the date you contribute. IRA Match FAQ. Other fees may apply. See Fee Schedule for more details.
Robinhood Gold members can also get up to a 3% IRA match on contributions. You have to remain a Gold member for at least a year, and you also have to keep the funds that earned the match in the IRA account for at least five years. However, the robo-advisor further sweetens the deal for Gold members by adding a 2% match on any eligible transfer from an old 401(k) or IRA to the new Robinhood IRA.
If going for the Gold costs too much, you can still enjoy a 1% match on both IRA contributions and eligible transfers as a non-Gold member.
SoFi Invest®
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No account minimum for active or automated investing, or to participate in IPOs. $5 minimum to own a fractional share of a company.
Fees
Fees may vary depending on the investment vehicle selected. Active investing has zero commission fees for trading stocks and ETFs (exchange and fund management fees may apply). Automated investing has zero management fees
Bonus
Download the SoFi app and get up to $1,000 when you open an Active SoFi Invest® Brokerage Account. SoFi covers up to $75 of any transfer fees your brokerage may charge when you transfer an account to SoFi
Investment vehicles
Robo-advisor:SoFi Automated InvestingIRA:SoFi Traditional, Roth, SEP and Rollover IRAsBrokerage and trading: SoFi Active Investing
Investment options
Stocks, bonds, ETFs, fractional shares and IPO participation
Educational resources
Investors can create a personal watchlist that follows their stocks to stay up to date and receive the latest investing news
Terms apply.
With SoFi Invest, you can score a 1% match on IRA contributions. You can also earn a 1% match on any eligible rollovers from non-SoFi accounts, but only if the rollover is $20,000 or more.
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