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1
Our Most Popular
9.8
BestMoneyscore
Popularity
Based on visits in the past 7 days
10.0
Brand Reputation
Based on web trends
9.2
SoFi®
Mobile App Available
Start saving for retirement and get access to a broad range of IRA accounts
$0 account minimums
Provides Traditional, SEP, & Roth IRAs
No commission with self-directed IRAs¹
1% match on all your SoFi IRA contributions & rollovers to maximize your earnings²
Takes less than 5 minutes to open an IRA
1,767 peoplevisited this site today
2
9.2
BestMoneyscore
Popularity
Based on visits in the past 7 days
9.0
Brand Reputation
Based on web trends
9.9
J.P. Morgan Personal Advisors
Open a self-directed IRA or create a plan with personal advisors
Offers Traditional and Roth IRA options
Calculators help you plan retirement finances
Track your investing in the Chase Mobile® app
3
9.0
BestMoneyscore
Popularity
Based on visits in the past 7 days
8.5
Brand Reputation
Based on web trends
9.6
Robinhood
Rollover IRA is distinguished by its user-friendly platform and fee-free structure, democratizing retirement savings
Get an extra 3% match with Robinhood Gold
Traditional and Roth IRAs with tax benefits
Receive 1% on every dollar you contribute
4
8.5
BestMoneyscore
Popularity
Based on visits in the past 7 days
8.0
Brand Reputation
Based on web trends
8.6
Public
Invest for your retirement with added tax benefits
Open a Traditional or Roth IRA
Up to a $10K bonus when you transfer/rollover an existing IRA/401K
FINRA-licensed customer support specialists
5
8.3
BestMoneyscore
Popularity
Based on visits in the past 7 days
7.5
Brand Reputation
Based on web trends
8.9
Acorns
Rollover IRA service that consolidates existing 401(k) or IRA funds into its platform
Offers Traditional, SEP, and Roth IRAs
Age-based portfolio that adjusts automatically
Monitor your accounts with the mobile app
16,114 people
explored an IRA account this month
BestMoney Total Score
Our product scores consist of a combination of the following 3 components:
Popularity
BestMoney measures user engagement based on the number of clicks each listed brand received in the past 7 days. The number of clicks to each brand will be measured against other brands listed in the same query. Therefore, the higher the share of clicks a brand receives in any specific query, the higher the Click Trend Score. BestMoney accepts advertising compensation from companies, which impacts their (and/or their products’) position, and in some cases, may also affect their Click Trend Score.
Brand Reputation
Semrush is a trusted and comprehensive tool that offers insights about online visibility and performance. The BestMoney Total Score will consist of the brand's reputation from Semrush. The brand reputation is based on Semrush's analysis of clickstream data, which includes user behavior, search patterns, and engagement, to accurately measure each brand's prominence, credibility, and trustworthiness. If a brand does not have a Semrush score, the BestMoney Total Score will be based solely on the Click Trend Score and Products & Features Score (read below).
Features & Benefits
BestMoney’s editorial team researches and reviews financial products based on factors such as: range of products and services offered, ease-of-use, online accessibility, customer service, special awards, and more. Each brand is then given a score based on the offerings in each parameter. The specific parameters which we use to evaluate the score of each product can be found on its review page.
Must Reads
Most Popular on BestMoney
9.8
BestMoneyscore
Popularity
Based on visits in the past 7 days
10.0
Brand Reputation
Based on web trends
9.2
SoFi®
Mobile App Available
Start saving for retirement and get access to a broad range of IRA accounts
$0 account minimums
Provides Traditional, SEP, & Roth IRAs
No commission with self-directed IRAs¹
1% match on all your SoFi IRA contributions & rollovers to maximize your earnings²
Takes less than 5 minutes to open an IRA
1,767 peoplevisited this site today
What are Rollover IRAs?
A rollover IRA is a type of Individual Retirement Account that allows individuals to transfer funds from an existing retirement account, like a 401(k) from a previous employer, into a new IRA. This process is designed to maintain the tax-deferred status of your retirement savings without incurring immediate taxes or penalties. It's a flexible option for managing retirement funds, especially for those changing jobs or retiring, who wish to consolidate their savings in one place.
Why Should You Open a Rollover IRA? Benefits and Opportunities
Opening a rollover IRA account comes with numerous benefits, including a wider variety of investment options compared to traditional employer-sponsored plans like 401(k)s. This can potentially lead to higher returns on your investments. A rollover IRA also simplifies your finances by consolidating multiple retirement accounts into one, making it easier to manage your investments. Additionally, opting for a Roth IRA rollover can provide tax-free growth and withdrawals, assuming certain conditions are met, which is a significant advantage for many investors.
What To Consider When Opening a Rollover IRA
When considering opening a rollover IRA, it's important to think about the type of IRA that best suits your financial situation—whether a traditional IRA or a Roth IRA rollover. The decision largely depends on your current tax rate, expected future income, and when you plan to start withdrawing funds. Other considerations include understanding the fees associated with the rollover IRA account, the investment options available, and whether your current financial institution offers the best rollover IRA terms compared to others in the market.
How To Open a Rollover IRA
Opening a rollover IRA typically involves several steps. First, decide where to open your new IRA account, considering factors such as fees, investment options, and customer service. Next, initiate the rollover process, which can involve a direct transfer or an indirect rollover, where funds are sent to you to deposit into the new IRA. It's crucial to follow IRS rules carefully to avoid taxes and penalties. For instance, in a 60-day rollover, you must deposit the funds into your new IRA within 60 days to maintain its tax-advantaged status.
Conclusion
Rollover IRAs are a powerful tool for managing retirement savings, offering flexibility, potentially better investment choices, and tax advantages. Whether it's rolling a 401k into an IRA or conducting an IRA to 401k rollover, the process can significantly impact your financial planning for retirement. As with any financial decision, it's wise to consult with a financial advisor to ensure that a rollover 401k to Roth IRA or any other type of rollover IRA aligns with your overall retirement strategy.
Disclosures
Sofi
¹Other fees apply.
²Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.
J.P. Morgan Personal Advisors
³ INVESTMENT AND INSURANCE PRODUCTS ARE: NOT A DEPOSIT • NOT FDIC INSURED • NO BANK GUARANTEE • MAY LOSE VALUE