Another great feature: Once you reach age 50, we can increase your contributions to help you take advantage of the IRS “catch-up” limits during your home stretch toward retirement. Here’s how to get started:
- Log on to your account. (Not yet registered? Sign up now.)
- Click More account information in the row of links above your IRA account details and select Schedule an automatic transaction from the dropdown menu.
- Select Add automatic transaction, then click your IRA account and choose a contribution method—either by maximizing your annual contribution or indicating a specific amount.
You’ll need to make a few other choices, too. For example: whether to invest in the mutual fund(s) you already own or add a new fund, and how often to invest (monthly, annually, etc.). Whatever path you choose, you’ll be taking a meaningful step toward a financially comfortable retirement, putting the power of compounding to work for you.
All investing is subject to risk, including the possible loss of the money you invest.
When taking withdrawals from an IRA before age 59½, you may have to pay ordinary income tax plus a 10% federal penalty tax.