Open an IRA account

At M1 Finance you can open the following IRA accounts:  


Traditional IRA 

A Traditional IRA is a tax-advantaged account designed to help people save for retirement. 

Contributions are generally made with after-tax money but can be tax-deductible if you meet income eligibility.  

Any potential earnings grow tax-deferred and are not taxed until you withdraw them after age 59½.  

Read more about Traditional IRAs on the IRS website 


Roth IRA 

A Roth IRA is a tax-advantaged savings account that provides federally tax-free growth and distributions once it has been open for five years and you are at least 59½ years of age. 

Contributions are made with after-tax income.  

Read more about Roth IRAs on the IRS website.   



A Simplified employee pension (SEP) IRA is a retirement savings account for self-employed individuals or small business owners.  

A SEP IRA has a higher contribution limit than a Traditional or Roth IRA. M1 currently only supports SEP IRAs for self-employed individuals. 


Learn more about saving for retirement with M1.  


To open a new IRA account: 


  1. Click below your name in the top right corner of the webpage.  
  2. Click “Add Account”   
  3. Click “Retirement”  
  4. Select the type of IRA you want to open or rollover a 401(k) from your previous brokerage. 


  1. Tap the three bars in the top left corner.    
  2. Tap “Add Account”   
  3. Select “Retirement”  
  4. Select the type of IRA you wish to open or rollover a 401(k) from your previous brokerage. 


You will be able to open an IRA account after you complete opening your first individual brokerage account. This can take up to 24 hours to process.   


Learn more about managing your IRA account. 

M1 does not provide tax advice. Consult your tax advisor to determine the best IRA account type for your needs.


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