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Getting Started with an IRA

Start Strong

Getting Started with an IRA

An IRA is one of the simplest ways to build long-term wealth — but the first step is knowing what to open, where to open it, and how to keep it easy enough to stick with for years.

✅ The 6-Step IRA Starter Plan Simple + Repeatable

  1. Choose your IRA type. The two most common are Traditional and Roth. Your taxes now vs. later is the big decision.
  2. Pick where you’ll open it. Banks, brokerages, and robo-advisors all offer IRAs — compare fees, investment options, and ease of use.
  3. Open the account. You’ll enter basic personal information (name, address, Social Security number) and link a funding source.
  4. Fund it. Start with a one-time deposit or set up automatic monthly contributions. Automation beats motivation.
  5. Select investments. For many Fiscal Investors, a low-cost diversified fund or a target-date approach keeps it clean and consistent.
  6. Review twice a year. Keep it aligned with your goals and rebalance if your allocation drifts.
Fiscal Investor rule: Consistency beats complexity. An IRA that gets funded every month will outperform the “perfect plan” that never happens.
New to this? Don’t get stuck on the “best” choice. Get the account open, automate contributions, and keep learning. Your future self cares more that you started than that you optimized on day one.

⚠️ 3 Common IRA Mistakes to Avoid

  • Waiting for the “perfect” time.
    Markets, tax rules, and life will never feel perfectly aligned. The biggest mistake is delaying. Opening and funding the IRA matters more than optimizing every detail on day one.
  • Not investing the money.
    An IRA is just a container. Leaving contributions in cash for years quietly destroys the power of compounding.
  • Stopping when markets get uncomfortable.
    Volatility is normal. Consistent contributions during down markets are often what drive long-term success.
Fiscal Investor truth: The goal isn’t to be perfect — it’s to be persistent. Retirement rewards consistency, not prediction.

🔎 Tools to Make the Decision Quick Answers

Which is better — Roth or Traditional?
Use this guide to compare taxes now vs. later, eligibility, and why “it depends” is often the correct answer.

Roth vs Traditional IRA →

How much should I contribute?
Use the calculator to see what you may need and how monthly contributions can close the gap.

IRA Contribution Calculator →

Want a compounding refresher? Pair your IRA plan with the Compound Interest Calculator.

Disclosure: Educational content only. Consider your tax situation and consult a qualified professional for personalized guidance.
Next Step

Start small. Start automatic. Start now.

If you do only one thing this week: open the IRA and set a monthly auto-transfer you can keep. The plan gets better over time — but only if it exists.

The Journey Begins → Questions? Email us