Robinhood Retirement | Get 3% extra, the biggest IRA match around

Get the biggest IRA match on the market with Robinhood Gold

Earn up to 3%* extra on every dollar you contribute to your IRA when you subscribe to Robinhood Gold. IRA transfers and 401(k) rollovers also earn 3% until April 30.

“The biggest IRA match” claim validated by Radius Global Market Research who evaluated self-directed retirement account offerings at major brokerage competitors Q1 2024. *3% match requires Robinhood Gold (subscription fee applies). Keep Gold for 1 year and the IRA for 5 years. Other terms apply.

3% Retirement Boost*

Boost every dollar with Robinhood Gold.

It’s easy to fund from outside accounts, transfer an existing IRA, or roll over an old 401(k). You’ll get 1% on top, no matter how much you transfer. Or with Robinhood Gold, you’ll get 3% (rollovers and transfers get 3% until April 30).

For illustrative purposes only.

Portfolio Builder

Invest in (your) style

Not sure where to start? Get a one-time custom recommended portfolio, build your own, or do a bit of both–all commission-free. Other fees may apply.
Other fees may apply. View Robinhood Financial’s fee schedule.

Tax Advantages

Take full advantage of IRA tax benefits

Earnings have tax-deferred or tax-free growth potential, so you’ll keep more of your money. Until April 15 (the tax filing deadline), you can contribute to the previous year’s IRA limit and earn up to an extra $195 (with Robinhood Gold*).
Robinhood does not provide tax advice.

Account Protection

SIPC coverage up to $500k

Member of SIPC, which protects securities customers of its members up to $500,000 (including $250,000 for claims for cash). Explanatory brochure available upon request or at www.sipc.org.
SIPC coverage does not protect against a loss in the market value of securities.Learn more on our help center.

Options

Add the flexibility of options trading

Qualified traders can trade options in a tax-advantaged account with no commission or per-contract fees. Other fees may apply.
View Robinhood Financial’s fee schedule. Options carry a significant level of risk and are not suitable for all investors. To learn more, read the Options Disclosure Document.

You could have an IRA

on top of your employer's 401(k)

If you have a 401(k) already, you can still open an IRA and invest even more for your future (up to $6,500 for 2023, $7,000 for 2024). Robinhood is the only place that adds extra money on every dollar you deposit.

Limitations apply to both types of retirement accounts. Please see the IRS's IRA Deduction Limits for more information.

You've got questions. We've got answers.
What's an IRA and how does it work?

An individual retirement account (IRA) allows you to save and invest money for retirement with tax advantages.

We offer 2 types of IRAs: Roth and traditional. A Roth IRA offers tax-free growth potential on after-tax contributions. With a traditional IRA, your investments have the opportunity to grow tax-deferred and you may be eligible for a tax deduction on your contributions.

Each year, the IRS sets a maximum amount that you can contribute across all of your IRAs. This includes IRAs outside of Robinhood. For 2024, the contribution limit is $7,000 for people under age 50, and $8,000 for people age 50 and over.

You can add money to your IRA in 2 ways:

  • Make annual IRA contributions that count toward your limit

  • Transfer or roll over money from another retirement account. There is no limit to the amount you can transfer or roll over.

Also, keep in mind you can still contribute to your IRA for 2023 until April 15, 2024.

When you fund a Robinhood IRA with Robinhood Gold, we’ll give you up to a 3% boost—also called a match—on all contributions. That means we’ll add 3% on top of every $1 you contribute, including transfers and rollovers*—and there’s no limit on the amount we’ll match.

  • To earn a 3% match, join Robinhood Gold for a monthly fee and keep your membership for 1 year**. Try Gold free for 30 days.

  • Without Gold, you’ll still earn a 1% match

Disclosures:

*3% match rate on transfers and rollovers lasts until April 30, 2024. After this date, the match rate on transfers and rollovers for Gold members is 1%.

**1 year starts from the date of your first contribution with a 3% match.

You must have earned (wage) income in order to contribute to an IRA. The funds that earned the match must be kept in the account for at least five years to avoid a potential Early IRA Match Removal Fee. For more information, visit the IRA Match FAQ.

Funds being contributed into or distributed from retirement accounts may entail tax consequences. Contributions are limited and withdrawals before age 59½ may be subject to a penalty tax. Robinhood does not provide tax advice; please consult with a tax adviser if you have questions.

The Robinhood IRA is available to any U.S. customer with a Robinhood brokerage account in good standing.

All investments involve risk and loss of principal is possible.

What's the IRA match?

The IRA match is extra money that we add to your account every time you make a contribution. You’ll earn between 1% and 3% extra for every $1 you contribute, including 401(k) rollovers and IRA transfers—and there’s no limit on the match you can earn.

  • To earn a 3%* match: Join Robinhood Gold and keep your membership for 1 year**. Try Gold free for 30 days, then pay a monthly fee.

  • Without Gold, you’ll still earn a 1% match.

If you’re under the age of 50, your IRA contribution limit for 2024 is $7,000, and If you’re over the age of 50, it’s $8,000.

Keep in mind that the match money you earn isn’t counted toward your annual contribution limits—and there’s no limit on what you can earn in match from rollovers and transfers. For example, if you transfer or roll over $1,000,000, we’ll give you $30,000 on top.

Disclosures:

*3% match rate on rollovers and transfers lasts until April 30, 2024. After this date, the match rate on rollovers and transfers for Gold members is 1%.

**1 year starts from the date of your first contribution with a 3% match.

The funds that earned the match must be kept in the account for at least 5 years to avoid a potential Early IRA Match Removal Fee. For more information, visit the IRA Match FAQ.

This is not a recommendation on any investment or investment strategy.

When will I get my IRA match?

You’ll usually get your IRA match right away. The exact amount of time depends on the type of contribution you’re making:

  • If you’re making a regular annual contribution: Once your deposit is complete, you’ll usually get your IRA match money instantly. Keep your contributions in your IRA for at least 5 years to avoid the early IRA match removal fee.

  • If you’re transferring an IRA: If you initiate a transfer by April 30, 2024, we’ll give you a 3% match if you’re a Gold member. Once your transfer completes, your match amount is calculated based on the match percent of the total of the transferred cash plus transferred securities and options*.

    • Settlement happens when the securities are posted to the account and available to trade. Note that the match money is only available for securities that successfully transfer and settle and won’t be granted for securities that are rejected.

  • If you’re rolling over a 401(k): If you initiate a rollover by April 30, 2024, we’ll give you a 3% match if you’re a Gold member. Once your 401(k) rollover completes, your IRA match will be calculated based on 1% of the total rollover amount.

What’s the difference between a Roth IRA and a traditional IRA?

Each type of IRA has unique benefits. You can have a Roth or traditional IRA even if you already have a 401(k).

With a Roth IRA:

  • You’re only eligible to contribute to a Roth IRA if you make under a certain amount per year

  • You contribute after-tax dollars. This means your contributions aren’t tax-deductible.

  • You can withdraw contributions anytime with no penalties or fees

  • If you withdraw earnings before you’re age 59½—and before you’ve owned your Roth IRA for at least 5 years—you may have to pay a 10% tax penalty

  • You aren’t required to make a withdrawal after you reach a certain age

With a traditional IRA:

  • You generally contribute pre-tax dollars. This means you may be able to take a tax deduction for the amount you contribute—which could help you save on taxes each year.

  • You can start withdrawing money without any penalties once you’re age 59½. You’re generally taxed on the amount you withdraw.

  • If you need to make a withdrawal before you’re age 59½, you can—but you may have to pay a 10% penalty

  • After you turn 73, you must withdraw a minimum amount each year from your traditional IRA to avoid tax penalties

Disclosure:

This is not investment or tax advice.

How do I choose between a Roth IRA and a traditional IRA?

To decide which IRA is right for you, first find out your eligibility:

You’re typically eligible for a Roth IRA if:

  • You’re filing jointly as a married couple and your MAGI is under $228,000 for 2023 or $240,000 for 2024

You’re usually eligible for a traditional IRA if:

  • You’ve earned any amount of income this year

If you’re eligible for both types of IRAs, you may want to consider whether you want tax benefits now or in the future.

A Roth IRA may be right for you if you:

  • Want tax-free withdrawals in retirement

  • Want to have access to your IRA money before retirement

  • Expect to be in a higher tax bracket after you retire

A traditional IRA may be right for you if you:

  • Want to potentially save on taxes this year

  • Don’t expect to use any IRA money before retirement

  • Expect to be in a lower tax bracket after you retire

Disclosure:

This is not investment or tax advice

I've got another IRA or old 401(k)—can I transfer or roll over to Robinhood?

Yes, you can transfer another IRA or roll over old retirement accounts, like a 401(k) or 403(b), into a Robinhood IRA.

When you transfer another IRA to your Robinhood IRA, keep these details in mind:

  • A transfer is a movement of funds between 2 retirement accounts of the same type. For example, you can transfer eligible assets from an outside Roth IRA into a Robinhood Roth IRA.

  • We’ll reimburse the IRA closing or transfer fee that the other brokerage might charge—up to $75 for transfers of $7,500 or more in equity, options, and cash assets, provided we receive proof of the charge.

When you roll over an old 401(k) to a Robinhood IRA, keep these details in mind:

  • You can earn up to a 3% match* with Robinhood Gold. Transfer or roll over any amount and we’ll add 3%. There’s no limit on the match dollars you can earn. For example, if you transfer $1,000,000, we’ll give you $30,000 on top. Join Robinhood Gold and keep your membership for 1 year**. Subscription fee applies.

  • Without Gold, we’ll still give you a 1% match. Transfer or rollover any amount from another retirement account and we’ll add 1% on top.

  • You’ll be able to pick investments that work for you. Get a one-time recommended portfolio, pick your own stocks and ETFs, or both. Keep in mind that some investments offered in a 401(k) plan may not be offered in an IRA.

A rollover is a non-taxable way to transfer money from an old 401(k) into an IRA. A rollover is just 1 of several actions you can take with your old 401(k). Learn more about rollovers and transfers

Disclosures:

*Offer lasts until April 30, 2024. After that, you’ll still get 1% on rollovers and transfers, with no limit on the match you can earn.

**1 year starts from the date of your first contribution with a 3% match.

This is not a recommendation to roll over.

A rollover is not your only option for an old 401(k). You generally have 4 options for what you can do with a 401(k) from a former employer. There are pros and cons to each that you should consider. This isn’t tax advice. Consult a tax professional to understand your unique situation. For more information, visit Robinhood’s Help Center or FINRA’s site.

Can I make automatic contributions?

Yes! With a Robinhood IRA, it’s simple to set up automatic—or recurring—contributions. You can choose a schedule that works for you:

  • Weekly, for a contribution initiated every Monday

  • Twice-monthly, for a contribution initiated on the 1st and 15th of every month

  • Monthly, for a contribution initiated on the 1st of every month

  • Quarterly, for a contribution initiated on the 1st of January, April, July, and October

What kind of investments can I choose for my IRA?

You can choose from thousands of stocks and ETFs to invest in within your IRA. You can either pick your own investments or get a one-time recommended portfolio.

Disclosures:

Investors should consider the investment objectives, risks, and charges and expenses of any Exchange Traded Product (ETP), including any Exchange-Traded Fund (ETF) and any Exchange-Traded Note (ETN), carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the ETP and should be read carefully before investing. For a current prospectus, customers should visit the relevant ETP's details page to access a link to the prospectus.

This is not investment advice, nor a recommendation of any specific asset or strategy. For specific questions, consult a professional.

All investments involve risk and loss of principal is possible.

Recommendations are one-time only. Any additional investment is at your sole discretion. Retirement recommendations aren’t available in Massachusetts at this time. Learn more about Retirement recommendations.

I’m not sure which investments to choose. Can you give me a recommendation?

If you’re not sure where to start, don’t worry—we’ve got you covered. Just open the Robinhood app and answer a few questions about your investing needs and retirement goals, and we’ll give you a one-time portfolio recommendation.

Our retirement recommendations are point-in-time, which means you can only invest in a recommended retirement portfolio once and we won’t continue to monitor your portfolio.

Disclosures:

Investors should consider the investment objectives, risks, and charges and expenses of any Exchange Traded Product (ETP), including any Exchange-Traded Fund (ETF) and any Exchange-Traded Note (ETN), carefully before investing. The prospectus and, if available, the summary prospectus contain this and other information about the ETP and should be read carefully before investing. For a current prospectus, customers should visit the relevant ETP's details page to access a link to the prospectus.

This is not investment advice, nor a recommendation of any specific asset or strategy. For specific questions, you should consult a professional.

All investments involve risk and loss of principal is possible.

Is the Robinhood IRA match the same as an employer’s 401(k) match?

No—they’re similar, but not the same.

Here are some key differences:

  • A Robinhood IRA isn’t tied to any employer. You’ll get your Robinhood IRA match no matter how you’re employed.

  • An IRA match doesn’t count toward your annual contribution limit. This means your match is extra money on top of your contributions.

  • A 401(k) employer match is a contribution that an employer makes to an employee’s retirement account

  • You can have both a 401(k) with an employer match and a Robinhood IRA with a match

Keep in mind that limitations apply to both types of retirement accounts. To learn more, read the IRS's IRA Deduction Limits.

What tax advantages do I get with an IRA?

We offer 2 types of IRAs: Roth and traditional. Each has special tax advantages.

Roth IRA tax advantages:

  • You contribute after-tax dollars.

  • Your potential IRA earnings grow tax-free because you pay taxes upfront.

  • You won’t pay any taxes when you make qualified withdrawals as long you’re age 59½ and have had your IRA for 5 years

** You should also know:**

  • Your contributions aren’t tax-deductible.

  • If you withdraw any earnings before you’re age 59½ or before you’ve had account for 5 years, you’ll likely have to pay penalties and taxes

Traditional IRA tax advantages:

  • You generally contribute pre-tax dollars. This means you may be able to take a tax deduction for the amount you contribute—which could help you save on taxes each year.

  • Your contributions and any potential earnings grow tax-deferred—because you usually pay taxes once you start making withdrawals

You should also know:

  • You’re required to withdraw a certain amount every year once you’re age 73, or else you may have to pay a penalty

To learn more about the tax advantages of IRAs, visit the IRS website or talk to a tax advisor.

PARTICIPATION IS POWER™

All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

© 2024 Robinhood. All rights reserved.
Follow us on

All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. RHF, RHY, RHC and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC and RHS are not banks. Securities products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. Cryptocurrencies held in RHC accounts are not covered by FDIC or SIPC protections and are not regulated by FINRA. RHY products are not subject to SIPC coverage but funds held in the Robinhood Money spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

© 2024 Robinhood. All rights reserved.