Opening a Roth IRA can take about 15 minutes online, yet many people put it off for years. The account itself is simple, and the hardest part is usually just deciding to begin. This guide walks through each step so you can start with confidence.
By the end you will know how to check eligibility, pick a provider, fund the account, and choose an investment.
Key facts at a glance
| Step | What to do |
|---|---|
| 1. Confirm eligibility | Check income and earned-income rules |
| 2. Choose a provider | Compare fees and investments |
| 3. Open the account | Provide ID and basic details |
| 4. Fund it | Up to $7,500, or $8,600 if 50+ |
| 5. Invest | Pick funds inside the account |
Figures reflect IRS Notice 2025-67 as of July 2026.
Step 1: Confirm you are eligible
Two things determine eligibility. First, you need earned income, such as wages or self-employment pay, at least equal to what you contribute.
Second, your income must fall under the Roth phase-out limits. For 2026, single filers and heads of household phase out between $153,000 and $168,000, and married couples filing jointly phase out between $242,000 and $252,000.
If you are under those ranges, you can contribute the full amount. If you are above them, a backdoor Roth may still be an option.
Step 2: Decide how much to contribute
For 2026, you can contribute up to $7,500, or $8,600 if you are 50 or older. You do not need the full amount to start.
Even $50 or $100 a month builds the habit and gets your money invested. You can raise the amount later as your budget allows.
Remember the limit is combined across all your IRAs, not per account.
Step 3: Choose where to open your account
You can open a Roth IRA at most brokerages, and app-based providers make it fast and beginner-friendly. Look at account minimums, trading fees, fund choices, and how easy the app is to use.
Robinhood offers Roth IRAs with no account minimum and has promoted a match on contributions, which can add a small boost to what you save. Terms and conditions apply.
Robinhood
Robinhood
Robinhood is a trading platform that brings stocks, ETFs, options, futures, prediction markets, crypto, and retirement accounts together in one app.
Standout feature
One platform for stocks, ETFs, options, futures, prediction markets, and crypto
Fees
$0 commission on stocks, ETFs, and options.
Pros
Zero-commission trading on stocks, ETFs, and options
Cons
Best perks (high APY, lower margin rates) require Gold subscription ($5/month)
Another option is Public, which lets you hold a retirement account alongside stocks, bonds, and other assets in one app. Comparing two or three providers before you commit helps you find the best fit for your goals.
Public
Public
Investing for those who take it seriously. Invest in stocks, bonds, options, crypto & more.
Standout feature
A 5%+ yield Bond Account paired with 3.3% APY on cash — Public is one of the only consumer apps where idle and conservative money is treated as seriously as the equity portfolio.
Fees
Free
Pros
• Invest in stocks, bonds, crypto & more• Earn 3.3% APY* on your cash with no fees• 1% match when you transfer your portfolio• Lock in a 5%+ yield with a Bond Account
Cons
Customer support is in-app and email only, no phone
Step 4: Open and fund the account
Opening the account takes only basic information. You will provide your name, address, Social Security number, and employment details, then link a bank account.
Once linked, you can transfer money in as a one-time deposit or set up automatic monthly contributions. Automating deposits is one of the best ways to reach your annual goal without thinking about it.
You can contribute for the 2026 tax year until the filing deadline in spring 2027.
Step 5: Choose your investments
Funding the account is not the finish line. Cash sitting in a Roth IRA does not grow until you invest it.
Many beginners start with a broad, low-cost index fund or a target-date fund that adjusts automatically as retirement nears. These options offer instant diversification with little upkeep.
All investing carries risk, and returns vary. Pick something you understand and can hold for the long term.
Consider your risk level
Your investment mix should match your timeline and comfort with ups and downs. A younger investor with decades ahead can usually hold more in stocks, while someone closer to retirement may want more stability.
If you want a small slice of higher-risk assets like crypto, Gemini is a regulated exchange some investors use. Keep any volatile holding to a portion you can afford to lose.
Gemini
Gemini
Buy, sell, and trade 70+ cryptocurrencies on one of America's most trusted and regulated exchanges. Founded by the Winklevoss twins, Gemini makes crypto simple and secure — plus get $15 in free Bitcoin when you trade $100.
Standout feature
Highly regulated exchange. Get $15 in free Bitcoin with $100 trade. 70+ coins available.
Fees
Free
Pros
One of the most regulated crypto exchanges. Strong security standards. Get $15 in free Bitcoin.
Cons
Higher fees than some competitors on the basic platform.
Track your progress
After you start, keeping an eye on contributions helps you hit the annual limit and stay motivated. A budgeting tool like Monarch Money can link your Roth IRA to the rest of your accounts so you see your retirement savings and net worth in one place.
Monarch Money
Monarch Money
Monarch Money simplifies personal finance by uniting all your accounts in one place—secure, ad-free, and built for couples. 50% off your first year when you sign up via Firstcard!
Standout feature
#1 rated budgeting app (WSJ). 50% off first year via Firstcard.
Fees
$14.99/mo or $99.99/yr ($8.33/mo)
Pros
Beautiful, ad-free interface (4.9★ App Store). Best budgeting app for couples and families. Comprehensive account syncing and cash flow forecasting.
Cons
No free tier — requires paid subscription.
Next steps
Confirm you qualify under the 2026 income limits, then pick a provider and open your account today. Set up an automatic monthly deposit you can sustain, choose a simple diversified fund inside the account, and increase the amount whenever your budget grows. And remember you can withdraw contributions anytime if you ever need to.
Frequently Asked Questions
How much money do I need to start a Roth IRA?
Many providers let you open a Roth IRA with no minimum, so you can start with a small amount. Even $50 or $100 gets your money invested and builds the habit. You can add more over time up to the annual limit.
What do I need to open a Roth IRA?
You need your Social Security number, a government ID, employment details, and a bank account to fund it. You also need earned income and must fall under the 2026 income limits. The application itself usually takes about 15 minutes online.
When is the deadline to contribute to a Roth IRA?
You can contribute for a given tax year until the tax filing deadline the following spring. For the 2026 tax year, that deadline falls in spring 2027. This gives you extra time to reach the annual limit.
What should I invest in inside my Roth IRA?
Many beginners choose a broad, low-cost index fund or a target-date fund for instant diversification and low upkeep. Your mix should match your timeline and comfort with risk. Remember that cash in the account will not grow until you invest it.
