Investing Archives

Dec

2025

Individual Retirement Account (IRA) vs Thrift Savings Plan (TSP)

By Dan Miller | invest, Investing, Preparing for Retirement | Comments Off

Although an IRA and a TSP are both types of retirement accounts, they are governed by different sets of rules, starting with the fact that anyone with earned income can open an IRA, but only employees of the U.S. government or the armed forces can fund a thrift savings plan.

A TSP effectively functions more like the government version of a 401(k) plan, with similar rules and contribution limits to these private company-sponsored plans.

When considering the advantages of an IRA vs. a TSP, remember that in many cases it’s possible to fund both types of accounts, as long as you understand the rules and restrictions that apply to each.

What Is an IRA?

You may already be familiar with what IRAs are: These are individual retirement accounts that are tax advantaged in different ways. Anyone with earned income can open an IRA, as long as they meet certain criteria.

Retirement savers can generally choose between traditional and Roth IRAs, with some exceptions owing to Roth eligibility rules (more on that below).

Traditional IRAs allow for pre-tax contributions, while Roth IRAs involve after-tax contributions and permit qualified tax-free withdrawals in retirement.

For tax year 2025, the maximum annual amount you can contribute to either type of IRA is $7,000; $8,000 if you’re 50 or older. For tax year 2026, the maximum amount you can contribute to either type of IRA for the year is $7,500; $8,600 if you’re 50 or older. These amounts are the total annual contribution amounts allowed across all ordinary IRA accounts.

So, if you contribute $3,000 to a Roth IRA in 2025 and you’re under age 50, then you can only contribute up to $4,000 in another IRA for that year. And if you contribute $3,000 to a Roth IRA in 2026 and you’re under age 50, you can only contribute up to $4,500 in another IRA for the year.

Calculate your IRA contributions.

Use SoFi’s IRA contribution calculator to determine how much you can contribute to an IRA in 2024.

What Is a TSP?

The Thrift Savings Plan (TSP) is an employer-sponsored plan that is open to members of the military and civilian employees of the federal government. TSPs are tax-advantaged plans that share many similarities to 401(k) plans offered by private employers.

Like 401(k) plans, you can contribute to a traditional TSP or a designated Roth TSP, both of which come with the types of tax advantages that are similar to traditional and Roth IRAs, as described above. In other words, many different types of retirement accounts may also offer a Roth-style option, for after-tax contributions. Be sure to check the rules and restrictions on contributing to both sides of a plan.

Perhaps the biggest difference with a TSP vs. an IRA is the annual contribution limit. You can contribute up to $23,500 for tax year 2025; for those 50 and older there is also an annual catch-up contribution of up to $7,500 per year, for a total of $30,500. Also, in 2025, those aged 60 to 63 may contribute a catch-up of up to $11,250 (instead of $7,500) for a total of $34,750, thanks to SECURE 2.0.

For 2026, you can contribute up to $24,500, and there is a catch-up contribution of up to $8,000 for those age 50 and up for a total of $32,500. Also, in 2025, those aged 60 to 63 may again contribute a catch-up of up to $11,250 (instead of $8,000) for a total of $35,750.

But contribution limits for IRAs are $7,000 for tax year 2025 ($8,000 for those 50 and up), and $7,500 for tax year 2026 ($8,600 for those 50 and older).

TSP vs. IRA

In addition, there are other similarities and differences between a TSP and an IRA.

Similarities

Both the TSP and IRAs provide tax-advantaged ways to save for retirement. With both TSPs and IRAs you can choose between a traditional (tax-deferred) account or a Roth (tax-free) account.

• With a traditional-style TSP or IRA, funds are deposited pre-tax, and you owe ordinary income tax on the withdrawals.

• With a Roth-style TSP or IRA, you deposit after-tax money, and qualified withdrawals are tax-free starting at age 59 ½, as long as you’ve held the account for at least five years.

• With both types of accounts, you may face tax consequences and/or a penalty if you withdraw your funds before age 59 ½.

Differences

There are far more differences between TSPs and IRAs, as you’ll see in the table below.

IRAs	TSP
Anyone with earned income can open an IRA	Only members of the military and government employees are eligible
Annual contribution limits for 2025 are $7,000 and $8,000 with the catch-up provision; annual contribution limits for 2026 are $7,500 and $8,600 with the catch-up.	Annual contribution limits for 2025 are $23,500; $31,000 with the catch-up provision and $34,750 for those aged 60 to 63; annual contribution limits for 2026 are $24,500; $32,500 with the catch-up provision and $35,750 for those aged 60 to 63.
A wide range of investment choices	Investment choices are limited to the funds the TSP provides
You have some control over the investment fees you pay, so be sure to check your all-in costs.	You have little control over the investment fees you pay, though TSP account and investment fees tend to be low.
You cannot take a loan from your IRA	TSP loans may be available
You are solely responsible for contributions	The government typically provides matching contributions of up to 5%
Traditional IRAs are subject to RMD rules; Roth IRAs are not	RMD rules apply to TSPs, but there are different distribution options: e.g. an installment plan or a lifetime annuity, among other choices

Pros and Cons of IRAs

As the name suggests, an IRA is an account that you manage individually. As such, it comes with its own set of advantages and disadvantages.

Pros

• You can open an IRA at most brokerage firms, and manage it yourself, as long as you have earned income.

• An IRA account typically offers access to a wide range of investment options.

• Traditional and Roth IRAs offer different tax treatments; you can choose whatever works best for your financial plan.

Cons

• Annual contribution limits are lower than many other types of retirement plans.

• Eligibility rules for Roth IRAs are complicated and can be limiting.

• Only you can fund an IRA; there is no employer match for a traditional IRA or Roth.

• You cannot take a loan from any type of IRA (but you may be able to take early withdrawals under some circumstances without owing a penalty; see IRS.gov).

Pros and Cons of TSPs

Remember that you can only participate in a TSP if you are an employee of the federal government or a member of the armed forces. Here are some other considerations.

Pros

• The annual contribution limits are higher than IRAs, and the same as 401(k) plans.

• TSPs include an employer match up to 5%.

• When setting up your income plan in retirement, TSPs offer a range of options for taking withdrawals, including fixed installments and a lifetime annuity option.

• You can take a loan from a TSP.

• TSP accounts have lower fees, generally, than IRA accounts

Cons

• Investment options within a TSP can be limited.

• If you leave your government job, you can no longer contribute to your TSP.

• TSP plan participants have less control, and cannot opt for lower-fee or investment options.

Can You Roll a TSP Into an IRA?

Yes, you can rollover your TSP funds into a qualified trust or eligible retirement plan. Eligible retirement plans include IRAs as well as qualified employer-sponsored plans.

Keep in mind that generally you generally need to rollover funds from a traditional TSP account into a traditional IRA and funds from a Roth TSP account into a Roth IRA in order to avoid taxes on the amount you rollover.

You may want to consult with a professional.

The Takeaway

The Thrift Savings Plan (TSP) is a government program intended to help government employees and members of the military save for retirement. It is an employer-sponsored plan similar to a 401(k). An individual retirement account (IRA) is also a way to save for retirement, but is an account you open and manage yourself.

While there are advantages and disadvantages to each, a TSP allows you to invest more of your savings over time; contribution limits are lower for traditional and Roth IRAs.

Ready to invest for your retirement? It’s easy to get started when you open a traditional or Roth IRA with SoFi. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

Help grow your nest egg with a SoFi IRA.

FAQ

Is a TSP or IRA better?

A TSP and an IRA are two different ways to save for retirement, and may suit different people for different reasons. Contributing to an IRA may provide you with more investment options, while you can save more in a TSP and the government may match some of your contributions — but not everyone has access to a TSP.

Should you move your TSP to an IRA?

If you leave government service, you can’t contribute to your TSP anymore — but you may be able to open an IRA and rollover the TSP funds. Doing a TSP-to-IRA rollover within the standard 60-day window can help ensure that you don’t have to pay any taxes or penalties, and this may help your retirement plan.

Is a TSP the same as an IRA?

No, a TSP is not the same as an IRA. A TSP is for employees of the government or the armed forces, and it’s comparable to an employer-sponsored plan like a 401(k) or 403(b). By contrast, anyone can open an IRA, as long as they have earned income and qualify.

Photo credit: iStock/Dilok Klaisataporn

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

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Dec

2025

The Pros and Cons of a Roth IRA

By Rebecca Lake | invest, Investing, Preparing for Retirement | Comments Off

A Roth IRA offers a tax-advantaged way to save for retirement. Contributions to a Roth IRA are made with after-tax dollars, and qualified withdrawals in retirement are tax-free. Individuals with earned income up to certain limits may be eligible to contribute to a Roth IRA.

A Roth IRA also has some potential drawbacks, however. Weighing the pros and cons of a Roth IRA can help you decide whether it’s a good fit in your retirement portfolio.

What Is a Roth IRA?

A Roth IRA is an individual retirement account that’s funded with after-tax dollars. That means you can’t deduct Roth contributions from your taxes at the time you make them. But in retirement, at age 59 ½ and older, qualified withdrawals are tax-free. That’s the most straightforward way of defining a Roth IRA, and it’s also one of the reasons some investors are drawn to it.

You can have a Roth IRA in addition to a 401(k) or other workplace retirement savings plan. You could also open a Roth IRA to help save for retirement if you don’t have access to an employer-sponsored retirement plan.

The IRS sets annual contribution limits for Roth IRAs, and these limits are adjusted periodically for inflation. The contribution limit for a Roth IRA in both 2024 and 2025 is $7,000 per year, while those 50 and up can contribute up to $8,000 per year.

Roth IRA Eligibility

To open a Roth IRA, you must have earned income, but one of the cons of a Roth IRA is that there are limits on how much you can earn to be eligible.

The chart below illustrates what you can contribute to a Roth IRA based on your modified adjusted gross income (MAGI) and tax filing status.

Filing status	2025 MAGI	2026 MAGI	Roth IRA contribution allowed
Single	Up to $150,000	Up to $153,000	$7,000 ($8,000 for those 50 and older)
	From $150,000 to $165,000	From $153,000 to $168,000	Partial contribution
	$165,000 or more	$168,000 or more	$0
Married, filing jointly	Up to $236,000	Up to $242,000	$7,000 ($8,000 for those 50 and older)
	From $236,000 to $246,000	From $242,000 to $252,000	Partial contribution
	$246,000 or more	$252,000 or more	$0
Married, filing separately	Less than $10,000	Less than $10,000	Partial contribution
	$10,000 and more	$10,000 and more	$0

As you can see, high-income earners may be ineligible for a Roth. You could, however, make contributions to a traditional IRA instead.

Roth IRA vs. Traditional IRA

A traditional IRA is also a tax-advantaged individual retirement account. Traditional IRAs have the same annual contribution limits as Roth IRAs. The main difference between a traditional vs. Roth IRA is their tax treatment.

Traditional IRAs are funded with pre-tax dollars. That means you may be eligible to deduct some or all of the contributions you make each year. In retirement, you’ll pay income tax on qualified withdrawals.

The amount you can deduct in traditional IRA contributions depends on your income, tax filing status, and whether you’re covered by a retirement plan at work.

What Are the Pros and Cons of a Roth IRA?

Saving for retirement in a Roth IRA has advantages, but it may not be the right option for everyone. Here are pros and cons of Roth IRAs.

Pros of a Roth IRA

There are several advantages of a Roth IRA, including:

Tax-Free Growth and Withdrawals

Because Roth IRAs are funded with after-tax dollars, you’ve already paid tax on the money you contribute. Your money grows tax-free while it’s invested, and when you withdraw it in retirement, you pay no taxes on it.

Tax-free withdrawals are beneficial if you expect your income to be higher in retirement than it is during your working years. Any money you take out of a Roth IRA at age 59 ½ or older wouldn’t increase your tax liability as long as it’s a qualified withdrawal.

No Required Minimum Distributions

With traditional IRAs, account holders must begin taking required minimum distributions (known as RMDs) from their account annually once they reach age 73 (assuming they reach age 72 in 2023 or later). If you don’t withdraw the required amount on time, you are subject to a tax penalty.

Roth IRAs do not have RMDs. You can leave the money in your account for as long as you like.

Contributions Can Be Withdrawn Penalty-Free

Ideally, the concept of a Roth IRA is to leave your money in the account until retirement. At age 59 ½ you can begin taking distributions without facing a 10% early withdrawal penalty. However, you can withdraw the contributions you make to a Roth IRA penalty-free at any time.

Your earnings are a different matter. You cannot withdraw your earnings before age 59 ½ without incurring taxes and penalties.

Cons of a Roth IRA

There are some drawbacks to an IRA, which mean these accounts may not be a good fit for everyone. These are the main cons of a Roth IRA to consider.

No Tax Deduction

Roth IRAs don’t offer a tax deduction for the contributions you make. Instead, you have to wait until retirement to reap the tax benefits. Tax-free withdrawals in your golden years could be an advantage, however, if you anticipate being in a higher tax bracket in retirement.

Income Limits Apply

Earning a higher income could put a Roth IRA out of reach for certain individuals, as our chart above indicates. If you’re not eligible for a Roth because of your earnings, you could consider a backdoor Roth IRA.

With a backdoor Roth, you make nondeductible contributions to a traditional IRA and then convert that IRA to a Roth IRA. However, since you’re moving pre-tax dollars into an after-tax account, you’ll owe income taxes on a Roth IRA conversion at the time you complete it, which could be costly.

The 5-Year Rule

Unlike traditional IRAs, Roth IRA accounts are subject to the 5-year rule. This rule says that, barring certain exceptions, your account must be open for at least five years before you can withdraw the earnings tax- and penalty-free at age 59 ½. The 5-year rule also applies to IRA conversions.

Setting Up a Roth IRA

Opening a Roth IRA is relatively easy. You choose where to open the account, fill out the required paperwork, designate a beneficiary, and fund your account.

Like many other investment accounts, you can open a Roth IRA through an online brokerage and link a bank account to it to make your first contribution.

Once you add funds to your IRA, you can decide how to invest them. Typically, brokerages offer options such as mutual funds and index funds. If you’re looking for alternative investments you may want to consider opening a self-directed IRA instead.

Roth IRA Withdrawal Rules

You can withdraw your Roth IRA contributions at any time without taxes or penalties. However, when it comes to earnings, Roth IRA withdrawal rules can be complicated since you have to factor in the five-year rule.

To help simplify things, this at-a-glance chart shows how withdrawals of earnings from a Roth IRA work and when taxes and penalties apply.

Your age	The account has been open less than five years	The account has been open for five years or more
Under 59 ½	Withdrawals of earnings are subject to taxes and penalties, unless an exception (like a disability) applies.	Withdrawals of earnings are not subject to taxes if the money is used for a first-home purchase or the account holder becomes disabled or passes away.
59 ½ or older	Withdrawals of earnings are subject to taxes, but not penalties.	Withdrawals of earnings are tax- and penalty-free.

Naming a Trust as Your Roth IRA Beneficiary

When you set up a Roth IRA, you need to name a beneficiary. Your beneficiary inherits the money in your Roth IRA after your death.

You can name an individual such as your spouse or child as your IRA beneficiary. You can also designate a trust as your beneficiary. A trust is a legal entity that you transfer your assets to. It’s administered by a trustee who manages your assets for you, according to your wishes.

For example, you might name a trust as the beneficiary of your Roth IRA if you’d like a say in what happens to your assets once you pass away. If you leave your IRA to an individual, they can do what they like with it. A trust allows you to leave specific instructions about how the assets in the trust can be used.

The Takeaway

A Roth IRA offers some unique benefits when it comes to retirement savings. With a Roth IRA, your money grows tax-free, you can make tax-free qualified withdrawals in retirement, and there’s no need for RMDs.

But not everyone is eligible to open a Roth IRA. There are income limits on these accounts, plus you must have funded a Roth for at least five years in order to make qualified withdrawals of your earnings without facing taxes and a penalty.

For those who are eligible for a Roth IRA, the prospect of tax-free withdrawals in retirement may make the potential downsides worth it. Consider all the pros and cons of a Roth IRA to make an informed decision about whether this type of retirement account is right for you.

Ready to invest for your retirement? It’s easy to get started when you open a traditional or Roth IRA with SoFi. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

FAQs

Are Roth IRAs considered a safe investment?

A Roth IRA is not an investment; it’s an individual retirement account into which you put money that you plan to invest. Your choice of investments, and your risk tolerance, can determine how “safe” your Roth IRA may be. When comparing different investments, consider the risk and possible reward of each one to determine if you’re comfortable with it.

Do Roth individual retirement accounts have income limits?

Roth IRAs do have income limits set by the IRS and updated annually that determine who can contribute. These limits are based on your modified adjusted gross income (MAGI). If your MAGI exceeds the limit allowed for your filing status, you won’t be able to make a Roth IRA contribution. For example, in 2024, a single person with a MAGI of $161,000 or more and a person married filing jointly with a MAGI of $240,000 or more are not eligible to contribute to a Roth IRA.

How much can you contribute to a Roth IRA?

The annual Roth IRA contribution limit is set by the IRS. For tax years 2024 and 2025, the annual contribution limit for Roth IRAs is $7,000. These IRAs allow for a catch-up contribution of up to $1,000 per year if you’re 50 or older, for a total of $8,000 each year.

About the author

Rebecca Lake

Rebecca Lake has been a finance writer for nearly a decade, specializing in personal finance, investing, and small business. She is a contributor at Forbes Advisor, SmartAsset, Investopedia, The Balance, MyBankTracker, MoneyRates and CreditCards.com. Read full bio.

Photo credit: iStock/Lusyaya

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Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

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Dec

2025

Self-Directed IRA for Real Estate Investing Explained

By Rebecca Lake | Growing Wealth, invest, Investing | Comments Off

A self-directed IRA (SIDRA) allows you to save money for retirement on a tax-advantaged basis while enjoying access to a broader range of investments. Opening a self-directed IRA for real estate investing is an opportunity to diversify your portfolio with an alternative asset class while potentially generating higher returns.

Using a self-directed IRA to invest in real estate offers the added benefit of either tax-deferred growth or tax-free withdrawals in retirement, depending on whether it’s a traditional or Roth IRA. Before making a move, however, it’s important to know how they work. The IRS imposes self-directed IRA real estate rules that investors must follow to reap tax benefits.

What Is a Self-Directed IRA?

Individual Retirement Accounts (IRAs) allow you to set aside money for retirement with built-in tax benefits. These retirement accounts come in two basic forms: traditional and Roth.

Traditional IRAs allow for tax-deductible contributions, while Roth IRAs let you make qualified distributions tax-free.

When you open a traditional or Roth IRA at a brokerage you might be able to invest in mutual funds, exchange-traded funds, or bonds. A self-directed IRA allows you to fund your retirement goals with alternative investments — including real estate.

You can do the same thing with a self-directed 401(k).

What Is a Self-Directed IRA?

Self-directed IRAs have the same annual contribution limits as other IRAs. For 2025, you can contribute up to:

• $7,000 if you’re under 50 years of age

• $8,000 if you’re 50 or older

For 2026, you can contribute up to:

• $7,500 if you’re under 50 years of age

• $8,600 if you’re 50 or older

Contributions and withdrawals are subject to the same tax treatment as other traditional or Roth IRAs. The biggest difference between a self-directed IRA and other IRAs is that while a custodian holds your account, you manage your investments directly.

💡 Quick Tip: Want to lower your taxable income? Start saving for retirement with an IRA account. With a traditional IRA, the money you save each year is tax deductible (and you don’t owe any taxes until you withdraw the funds, usually in retirement).

How Self-Directed IRAs for Real Estate Investing Work

Using a self-directed IRA to invest in real estate allows investors to invest in various funds or securities that, themselves, invest in property or real estate. Those securities may be real estate investment trusts (REITs), mutual funds, or ETFs focused. Investors with self-directed IRAs can, then, direct retirement account funds toward those securities.

Other types of real estate investments can include single-family homes, multi-family homes, apartment buildings, or commercial properties — actual, physical property. For investors who do want to buy actual property using an IRA, the process generally involves buying the property with cash (which may require them to liquidate other investments first), and then taking ownership, which would all transact through the IRA itself. It’s not necessarily easy and can be complicated, but that’s the gist of it.

With that in mind, the types of investments you can make within an IRA will depend on your goals.

For instance, if you’re interested in generating cash flow you might choose to purchase one or more rental properties using a self-directed IRA for real estate. If earning interest or dividends is the goal, then you might lean toward mortgage notes and REIT investing instead.

The most important thing to know is that if you use a retirement account to invest in real estate, there are some specific rules you need to know. For instance, the IRS says that you cannot:

• Use your retirement account to purchase property you already own.

• Use your retirement account to purchase property owned by anyone who is your spouse, family member, beneficiary, or fiduciary.

• Purchase vacation homes or office space for yourself using retirement account funds.

• Do work, including repairs or improvements, on properties you buy with your retirement account yourself.

• Pay property expenses, such as maintenance or property management fees, from personal funds; you must use your self-directed IRA to do so.

• Pocket any rental income, dividends, or interest generated by your property investments; all income must go to the IRA.

Violating any of these rules could cause you to lose your tax-advantaged status. Talking to a financial advisor can help you make sense of the rules.

Pros and Cons of Real Estate Investing Through an IRA

Using a self-directed IRA for real estate investing can be appealing if you’re ready to do more with your portfolio. Real estate offers diversification benefits as well as possible inflationary protection, as well as the potential for consistent passive income.

However, it’s important to weigh the potential downsides that go along with using a self-directed IRA to buy real estate.

Pros	Cons
• Self-directed IRAs for real estate allow you to diversify outside the confines of traditional stocks, bonds, and mutual funds. • You can establish a self-directed IRA as a traditional or Roth account, depending on the type of tax benefits you prefer. • Real estate returns can surpass those of stocks or bonds and earnings can grow tax-deferred or be withdrawn tax-free in retirement, in some cases. • A self-directed IRA allows you to choose which investments to make, based on your risk tolerance, goals, and timeline.	• The responsibility for due diligence falls on your shoulders, which could put you at risk of making an ill-informed investment. • Failing to observe self-directed IRA rules could cost you any tax benefits you would otherwise enjoy with an IRA. • The real estate market can be unpredictable and investment returns are not guaranteed — they’re higher-risk investments, typically. Early withdrawals may be subject to taxes and penalties, and there may be higher associated fees. • Self-directed IRAs used for real estate investing are often a target of fraudulent activity, which could cause you to lose money on investments.

Pros

Cons

• Self-directed IRAs for real estate allow you to diversify outside the confines of traditional stocks, bonds, and mutual funds.

• You can establish a self-directed IRA as a traditional or Roth account, depending on the type of tax benefits you prefer.

• Real estate returns can surpass those of stocks or bonds and earnings can grow tax-deferred or be withdrawn tax-free in retirement, in some cases.

• A self-directed IRA allows you to choose which investments to make, based on your risk tolerance, goals, and timeline.

• The responsibility for due diligence falls on your shoulders, which could put you at risk of making an ill-informed investment.

• Failing to observe self-directed IRA rules could cost you any tax benefits you would otherwise enjoy with an IRA.

• The real estate market can be unpredictable and investment returns are not guaranteed — they’re higher-risk investments, typically. Early withdrawals may be subject to taxes and penalties, and there may be higher associated fees.

• Self-directed IRAs used for real estate investing are often a target of fraudulent activity, which could cause you to lose money on investments.

Using a self-directed IRA for real estate or any type of alternative investment may involve more risk because you’re in control of choosing and managing investments. For that reason, this type of account is better suited for experienced investors who are knowledgeable about investment properties, rather than beginners.

Real Estate IRAs vs Self-directed IRAs For Real Estate Investing

A real estate IRA is another way of referring to a self-directed IRA that’s used for real estate investment. The terms may be used interchangeably and they both serve the same purpose when describing what the IRA is used for.

Again, the main difference is how investments are selected and managed. When you open a traditional or Roth IRA at a brokerage, the custodian decides which range of investments to offer. With a self-directed IRA, you decide what to invest in, whether that means investing in real estate or a different type of alternative investment.

Opening an IRA With SoFi

Opening a self-directed IRA is an option for many people, and the sooner you start saving for retirement, the more time your money has to grow. And, as discussed, a self-directed IRA allows you to save money for retirement on a tax-advantaged basis while enjoying access to a broader range of investments, including real estate.

Once again, using a self-directed IRA to invest in real estate offers the added benefit of tax-deferred growth and tax-free withdrawals in retirement. There are pros and cons, and rules to abide by, but these types of accounts are another option for investors.

Ready to invest for your retirement? It’s easy to get started when you open a traditional or Roth IRA with SoFi. SoFi doesn’t charge commissions, but other fees apply (full fee disclosure here).

¹Opening and funding an Active Invest account gives you the opportunity to get up to $3,000 in the stock of your choice.

FAQ

Can you use a self-directed IRA for real estate?

You can use a self-directed IRA to invest in real estate-related or -focused securities and other types of alternative investments. Before opening a self-directed IRA to invest in real estate, it’s important to shop around to find the right custodian. It’s also wise to familiarize yourself with the IRS self-directed IRA real estate rules.

What are the disadvantages of holding real estate in an IRA?

The primary disadvantage of holding real estate in an IRA is that there are numerous rules you’ll need to be aware of to avoid losing your tax-advantaged status. Aside from that, real estate is less liquid than other assets which could make it difficult to exit an investment if you’d like to remove it from your IRA portfolio.

What are you not allowed to put into a self-directed IRA?

The IRS doesn’t allow you to hold collectibles in a self-directed IRA. Things you would not be able to hold in a self-directed IRA include fine art, antiques, certain precious metals, fine wines, or other types of alcohol, gems, and coins.

About the author

Rebecca Lake

Photo credit: iStock/SrdjanPav

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Dec

2025

What Is a Gold IRA? How Do You Invest in One?

By Dan Miller | Growing Wealth, invest, Investing | Comments Off

While it’s common for people to use their IRA to invest in stocks, bonds, and other securities, it’s also possible to set up a self-directed IRA to invest in physical gold bars, coins, or bullion.

Although the assets within a self-directed IRA are considered alternative investments, these accounts still follow the standard IRS rules regarding tax advantages, annual contribution limits, and so forth.

That said, not all brokers offer self-directed IRAs. And investing in gold within an IRA may be more expensive owing to the cost of storing a physical commodity like gold.

Establishing a Gold IRA Account

It’s important to understand that there isn’t a dedicated “gold IRA” that’s geared toward investing in gold alone (or any other type of precious metal). Rather, investors interested in investing in gold or other types of alternative investments can set up what’s known as a self-directed IRA (or SIDRA) in order to choose investments that aren’t normally available through a traditional IRA account.

While alternative investments can be illiquid, volatile, or subject to other risk factors, investors interested in alts may be curious about the potential for greater diversification since these assets typically don’t move in tandem with conventional markets. In the case of precious metals, they can be an inflation hedge.

Understanding Self-Directed IRAs

Typically, most IRA providers only allow you to invest in securities like stocks, bonds, ETFs or mutual funds. If you want to invest in gold by in an ETF focusing on gold, or by purchasing stock in a gold mining company, then a traditional IRA custodian is fine.

But if you want to hold physical gold in your IRA, you’ll need to find a broker that will allow you to set up a self-directed IRA.

Self-directed IRAs and self-directed Roth IRAs allow account holders to buy and sell a wider variety of investments than regular traditional IRAs and Roth IRAs.

While a custodian or a trustee administers the SDIRA, the account holder typically manages the portfolio of assets themselves. These accounts may also come with higher fees than regular IRAs owing to the higher cost of storing physical assets like gold.

That said, a self-directed IRA follows the same general rules as ordinary IRAs in terms of tax rules, withdrawal restrictions, income caps, and annual contribution limits (see details below). A self-directed IRA can be set up as a traditional, tax-deferred account, or a self-directed Roth IRA.

Setting Up a Gold IRA Account

Once you’ve found an IRA custodian or brokerage that allows you to open a self-directed IRA and purchase physical gold, you can fund your account. Be sure you’re working with a reputable, experienced precious metals IRA custodian, and that the company is registered with the SEC (Securities and Exchange Commission) and with FINRA (Financial Industry Regulatory Authority).

The two most common ways to fund a gold IRA are by contributing cash or transferring money from an existing IRA or 401(k) account.

After you’ve funded your account, your broker will purchase the physical gold and store it for you. These same steps will hold true if you want to invest in other precious metals, including silver or platinum.

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Gold Standards for IRAs

Just as with a silver IRA, there are restrictions on the physical gold you are allowed to hold in an IRA. Any gold that is held in an IRA must be at least 99.5% pure.

Some common types of gold coins that are allowed to be held in a gold IRA include American Eagle bullion or coins, Canadian Maple Leaf coins and Australian Koala bullion coins.

Managing a Gold IRA Portfolio

The process for managing an IRA invested in gold is similar to managing an IRA that holds any commodity or security.

When you open a gold IRA, you will issue instructions to your broker to buy and sell physical gold, just as you would if you were buying stocks in a more traditional IRA. The value of your gold IRA portfolio fluctuates with the value of the physical gold that you hold.

You are not allowed to hold the gold yourself while it is part of your IRA. If you want to take possession of the physical gold bullion in your gold IRA, you will need to make a withdrawal from your IRA — which is subject to standard IRS rules governing IRA withdrawals.

An early withdrawal before age 59 ½ may result in taxes and/or penalties, so make sure you understand the terms before you take a withdrawal from a self-directed IRA.

Tax Advantages and Drawbacks of Gold IRAs

Remember that an IRA invested in gold still follows the basic structure and tax rules of traditional and Roth IRAs. The annual contribution limit for a regular, Roth, or self-directed IRA is $7,000 for tax year 2025, or $8,000 for those 50 and older, and $7,500 for tax year 2026, or $8,600 for those 50 and older.

• With a self-directed traditional IRA, you save money that’s considered pre-tax (just as in a traditional IRA account). The value of the assets within the account may grow over time, but taxes are deferred. This means you will owe tax on the money when you withdraw it, which you can do without penalty starting at age 59 ½.

• With a self-directed Roth IRA you make after-tax contributions, just as you would with a regular Roth IRA. Here the money grows tax free over time. In the case of a Roth account, qualified withdrawals are tax free starting at age 59 ½, as long as you have had the account for at least five years, according to the five-year rule.

In addition, investors who want to set up a Roth SIDRA must meet certain income requirements (the same income caps as for a regular Roth IRA). For single and joint tax filers: in order to contribute the full amount to a Roth IRA in 2025, you must earn less than $150,000 (for single filers) or $236,000 (if you’re married, filing jointly), respectively.

In 2026, to contribute the full amount to a Roth IRA, you must earn less than $153,000 as a single filer and less than $242,000 if you’re married filing jointly. See IRS.gov for additional details, or consider consulting a tax professional.

One of the biggest drawbacks of a gold IRA is that the money in your IRA is generally intended for retirement. That means that if you withdraw the money in any IRA before you reach 59 ½, you may have to pay additional taxes and/or a 10% penalty. Another drawback is that you are limited by how much you can contribute to a gold IRA each year.

The Takeaway

There isn’t a specific type of IRA called a gold IRA — this is just a common way to refer to a self-directed IRA that is used to invest in physical gold. A gold IRA might be a traditional or a Roth IRA, which each come with certain tax advantages. Any gold that you hold in a self-directed IRA must be at least 99.5% pure. Additionally, not all brokers allow you to self-direct your investments and hold gold in your IRA.

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FAQ

What types of gold investments can be held in a gold IRA?

Like other commodities including silver or platinum, there are specific rules about what kinds of gold investments can be held in a gold IRA. Gold must be at least 99.5% pure to be eligible to be held in an IRA. This includes coins like the Australian Koala, Canadian Maple Leaf, or American Eagle.

How do you set up and fund a gold IRA account?

The most important step to setting up and funding a gold IRA is to find a custodian that will allow you to open a self-directed IRA and invest in precious metals. Once you have found a custodian that will, simply follow their account setup instructions. Then you can fund your gold IRA, by either making a new contribution, or transferring money from a 401(k) account or an existing IRA.

What are the tax benefits and restrictions associated with a gold IRA?

The tax benefits and restrictions of a self-directed gold IRA are the same as any other IRA. With a traditional gold IRA, you may be eligible for a tax deduction in the year that you make a contribution, but you’ll owe taxes on withdrawals. With a Roth gold IRA, you don’t get a tax deduction when you make your contribution — instead, your withdrawals are tax free. In most circumstances, you will have to pay taxes and/or penalties if you make a withdrawal before age 59 ½.

Photo credit: iStock/JohnnyGreig

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CN-Q425-3236452-51

Dec

2025

Is a SIMPLE IRA the Same as a Traditional IRA?

By Laurel Tincher | Growing Wealth, invest, Investing, Preparing for Retirement | Comments Off

One of the most popular retirement accounts is an IRA, or Individual Retirement Account. IRAs allow individuals to put money aside over time to save up for retirement, with tax benefits similar to those of other retirement plans.

Two common IRAs are the SIMPLE IRA and the Traditional IRA, both of which have their own benefits, downsides, and rules around who can open an account. For investors trying to decide which IRA to open, it helps to know the differences between SIMPLE IRAs and Traditional IRAs.

SIMPLE IRA vs Traditional IRA: Side-by-Side Comparison

Although there are many similarities between the two accounts, there are some key differences. This chart details the key attributes of each plan:

	SIMPLE IRA	Traditional IRA
Offered by employers	Yes	No
Who it’s for	Small-business owners and their employees	Individuals
Eligibility	Earn at least $5,000 per year	No age limit; must have earned income in the past year
Tax deferred	Yes	Yes
Tax deductible contributions	Yes, for employers and sole proprietors only	Yes
Employer contribution	Required	No
Fee for early withdrawal	10% plus income tax, or 25% if money is withdrawn within two years of an employer making a deposit	10% plus income tax
Contribution limits	$16,500 in 2025 $17,000 in 2026	$7,000 in 2025 $7,500 in 2026
Catch-up contribution	$3,500 additional per year for people 50 and over in 2025 $4,000 additional per year for those 50 and older in 2026 $5,250 additional per year for those aged 60 to 63 in both 2025 and 2026, thanks to SECURE 2.0	$1,000 additional per year in 2025 for people 50 and over $1,100 additional per year in 2026 for those 50 and older

SIMPLE IRAs Explained

The SIMPLE IRA, which stands for Savings Incentive Match Plan for Employees, is set up to help small-business owners help both themselves and their employees save for retirement. It’s a retirement plan that small businesses with fewer than 100 employees can offer employees who earn at least $5,000 per year.

A SIMPLE IRA is similar to a Traditional IRA, in that a plan participant can make tax-deferred contributions to their account, so that it grows over time with compound interest. When the individual retires and begins withdrawing money, then they must pay income taxes on the funds.

With a SIMPLE IRA, both the employer and the employee contribute to the employee’s account. Employers are required to contribute in one of two ways: either by matching employee contributions up to 3% of their salary, or by contributing a flat rate of 2% of the employee’s salary, even if the employee doesn’t contribute. With the matching option, the employee must contribute money first.

There are yearly employee contribution limits to a SIMPLE IRA: In 2025, the annual limit is $16,500, with an additional $3,500 in catch-up contributions permitted for people age 50 and older, and an additional $5,250 for those ages 60 to 63, thanks to SECURE 2.0.

In 2026 the annual limit is $17,000, with an additional $4,000 in catch-up contributions permitted for people age 50 and older, and an additional $5,250 for those ages 60 to 63.

Benefits and Drawbacks of SIMPLE IRAs

It’s important to understand both the benefits and downsides of the SIMPLE IRA to make an informed decision about retirement plans.

SIMPLE IRA Benefits

There are several benefits — for both employers and employees — to choosing a SIMPLE IRA:

• For employers, it’s easy to set up and manage, with online set-up available through most banks.

• For employers, management costs are low compared to other retirement plans.

• For employees, taxes on contributions are deferred until the money is withdrawn.

• Employers can take tax deductions on contributions. Sole proprietors can deduct both salary and matching contributions.

• For employees, there is an allowable catch-up contribution for those over 50.

• For employers, the IRA plan providers send tax information to the IRS, so there is no need to do any reporting.

• Employers and employees can choose how the money in the account gets invested based on what the plan offers. Options may include mutual funds aimed toward growth or income, international mutual funds, or other assets.

SIMPLE IRA Drawbacks

Although there are multiple benefits to a SIMPLE IRA, there are some downsides as well:

• Employers must follow strict rules set by the IRS.

• Other employer-sponsored retirement accounts have higher limits, such as the 401(k), which allows for $23,500 per year in 2025 and $24,500 in 2026. (Check out our IRA calculator to see what you can contribute to each type of IRA.)

• If account holders withdraw money before they reach age 59 ½, they must pay a 10% fee and income taxes on the withdrawal. That penalty jumps to 25% if money is withdrawn within two years of an employer making a deposit.

• There is no option for a Roth contribution to a SIMPLE IRA, which would allow account holders to contribute post-tax money and avoid paying taxes later.

What Is a Traditional IRA?

The Traditional IRA is set up by an individual to contribute to their own retirement. Employers are not involved in Traditional IRAs in any way. The main requirements to open an IRA are that the account holder must have earned some income within the past year, and they must be younger than 70 ½ years old at the end of the year.

Pros and Cons of Traditional IRAs

When it comes to benefits and downsides, there’s not too much of a difference between Traditional vs. SIMPLE IRAs, given what an IRA is. That being said, there are a few that are unique to this type of plan.

Traditional IRA Pros

Some of the upsides of a Traditional IRA include:

• It allows for catch-up contributions for those over age 50.

• One can choose how the money in the account gets invested based on what the plan offers. Options may include mutual funds aimed toward growth or income, international mutual funds, or other assets.

• Contributions are tax-deferred, so taxes aren’t paid until funds are withdrawn. If you’re hoping to pay taxes now instead of later, you might weigh a Traditional vs. Roth IRA.

Traditional IRA Cons

Meanwhile, downsides to a Traditional IRA include:

• They have much lower contribution limits than a 401(k) or a SIMPLE IRA, at $ $7,000 in 2025, and $7,500 in 2026.

• Penalties for early withdrawal are also the same: if you withdraw money before age 59 ½, you’ll pay a 10% fee plus income taxes on the withdrawal.

Is a SIMPLE IRA or Traditional IRA Right for You?

The SIMPLE IRA and Traditional IRA are both individual retirement accounts, but the SIMPLE is set up through one’s employer — typically a small business of 100 people or less. The Traditional IRA is set up by an individual. In other words, whether a SIMPLE IRA is an option for you will depend on if you have an employer that offers it.

There are many similarities in the attributes of the plans, if you’re choosing between a SIMPLE IRA vs. Traditional IRA. However, two major distinctions are that the SIMPLE IRA requires employer contributions (though not necessarily employee contributions) and allows for a higher amount of employee contributions per year.

Can I Have Both a SIMPLE IRA and a Traditional IRA?

Yes, it is possible for an individual to have both a SIMPLE IRA through their employer and also a Traditional IRA on their own — though they may not be able to deduct all of their Traditional IRA contributions. The IRS sets a cap on deductions per calendar year.

In 2025, single people covered by an employer-sponsored retirement plan at work who have a MAGI (modified adjusted gross income) of more than $79,000 are restricted to a partial deduction; those with a MAGI of $89,000 or more may not take a deduction at all. Those with an employer-sponsored plan at work who are married filing jointly with an MAGI of more than $126,000 but less than $146,000 may take a partial deduction; those with a MAGI of $146,000 or more may not take a deduction at all.

In 2026, single people covered by an employer-sponsored retirement plan at work who have a MAGI of more than $81,000 and less than $91,000 are restricted to a partial deduction; those with a MAGI of $91,000 or more may not take a deduction at all. Those who are covered by an employer-sponsored retirement plan at work and are married filing jointly with a MAGI of more than $129,000 and less than $149,000 may take a partial deduction; those with a MAGI of $149,000 or more may not take a deduction at all.

Can You Convert a SIMPLE IRA to a Traditional IRA?

If you’re hoping to convert a SIMPLE IRA to a Traditional IRA, you’re in luck — you can roll over a SIMPLE IRA into a Traditional IRA. However, you can’t roll over the funds from a SIMPLE IRA to a Traditional IRA within the first two years of opening a SIMPLE IRA. Otherwise, you’ll get hit with a 25% penalty in addition to the regular income tax you must pay on your withdrawal.

Once that two-year period is up, however, you can roll over the money from your SIMPLE IRA — even if you’re still working for that employer. Just note that you can only roll over money from a SIMPLE IRA one time within a 12-month period.

Can You Max Out a Traditional and SIMPLE IRA the Same Year?

While you cannot max out a SIMPLE IRA and another employer-sponsored retirement plan like a 401(k), you can max out both a Traditional IRA and a SIMPLE IRA.

The maximum contribution for a SIMPLE IRA in 2025 is $16,500 (plus $3,500 in catch-up contributions), while the maximum for a Traditional IRA is $7,000 (plus $1,000 in catch-up contributions). This means that you could contribute a total of $23,500 across both plans in a year — or $28,000 if you’re 50 or older.

The maximum contribution for a SIMPLE IRA in 2026 is $17,000 (plus $4,000 in catch-up contributions), while the maximum for a Traditional IRA is $7,500 (plus $1,100 in catch-up contributions). This means that you could contribute a total of $24,500 across both plans for the year — or $29,600 if you’re 50 or older.

Are SIMPLE IRAs Most Similar to 401(k) Plans?

There are a lot of similarities between SIMPLE IRAs and 401(k) plans given that they are both employer-sponsored retirement plans. However, while any employer with one or more employees can offer a 401(k), SIMPLE IRAs are reserved for employers with 100 or fewer employees. Additionally, contribution limits are lower with SIMPLE IRAs than with 401(k) plans.

Another key difference between the two is that while employers can opt whether or not to make contributions to employee 401(k), employer contributions are mandatory with SIMPLE IRAs. On the employer side, SIMPLE IRAs generally have fewer account fees and annual tax filing requirements.

Opening an IRA With SoFi

Understanding the differences between retirement accounts like the SIMPLE and Traditional IRA is one more step in creating a personalized retirement plan that works for you and your goals. While a SIMPLE IRA is only an option if your employer offers it, you’ll want to weigh the pros and cons of a SIMPLE IRA vs. Traditional IRA if both are on the table for you. As we’ve covered, the two types of IRAs share many similarities, but a SIMPLE IRA is not the same as a Traditional IRA.

If you’re looking to start saving for retirement now, or add to your investments for the future, SoFi Invest® online retirement accounts offer both Traditional and Roth IRAs that are simple to set up and manage. By opening an IRA with SoFi, you’ll gain access to a broad range of investment options, member services, and a robust suite of planning and investment tools.

Find out how to further your retirement savings goals with SoFi Invest.

FAQ

Do you pay taxes on SIMPLE IRA?

Yes, you will pay taxes on a SIMPLE IRA, but not until you withdraw your funds in retirement. You’ll generally have to pay income tax on any amount you withdraw from your SIMPLE IRA in retirement. However, if you make a withdrawal prior to age 59 ½, or if money is withdrawn within two years of an employer making a deposit, you’ll have to pay income taxes then, alongside an additional tax penalty.

Is a SIMPLE IRA better than a Traditional IRA?

When comparing a SIMPLE IRA vs. traditional IRA, it’s important to understand that each has its pros and cons. If your employer offers a SIMPLE IRA, they require employer contributions, and they have higher contributions. At the end of the day, though, both allow you to save for retirement through tax-deferred contributions.

INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE

Individual Retirement Account (IRA) vs Thrift Savings Plan (TSP)

What Is an IRA?

What Is a TSP?

TSP vs. IRA

Similarities

Differences

Pros and Cons of IRAs

Pros

Cons

Pros and Cons of TSPs

Pros

Cons

Can You Roll a TSP Into an IRA?

The Takeaway

FAQ

Is a TSP or IRA better?

Should you move your TSP to an IRA?

Is a TSP the same as an IRA?

The Pros and Cons of a Roth IRA

What Is a Roth IRA?

Roth IRA Eligibility

Roth IRA vs. Traditional IRA

What Are the Pros and Cons of a Roth IRA?

Pros of a Roth IRA

Tax-Free Growth and Withdrawals

No Required Minimum Distributions

Contributions Can Be Withdrawn Penalty-Free

Cons of a Roth IRA

No Tax Deduction

Income Limits Apply

The 5-Year Rule

Setting Up a Roth IRA

Roth IRA Withdrawal Rules

Naming a Trust as Your Roth IRA Beneficiary

The Takeaway

FAQs

Are Roth IRAs considered a safe investment?

Do Roth individual retirement accounts have income limits?

How much can you contribute to a Roth IRA?

Self-Directed IRA for Real Estate Investing Explained

What Is a Self-Directed IRA?

What Is a Self-Directed IRA?

How Self-Directed IRAs for Real Estate Investing Work

Pros and Cons of Real Estate Investing Through an IRA

Real Estate IRAs vs Self-directed IRAs For Real Estate Investing

Opening an IRA With SoFi

FAQ

Can you use a self-directed IRA for real estate?

What are the disadvantages of holding real estate in an IRA?

What are you not allowed to put into a self-directed IRA?

What Is a Gold IRA? How Do You Invest in One?

Establishing a Gold IRA Account

Understanding Self-Directed IRAs

Setting Up a Gold IRA Account

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Gold Standards for IRAs

Managing a Gold IRA Portfolio

Tax Advantages and Drawbacks of Gold IRAs

The Takeaway

FAQ

What types of gold investments can be held in a gold IRA?

How do you set up and fund a gold IRA account?

What are the tax benefits and restrictions associated with a gold IRA?

Is a SIMPLE IRA the Same as a Traditional IRA?

SIMPLE IRA vs Traditional IRA: Side-by-Side Comparison

SIMPLE IRAs Explained

Benefits and Drawbacks of SIMPLE IRAs

SIMPLE IRA Benefits

SIMPLE IRA Drawbacks

What Is a Traditional IRA?

Pros and Cons of Traditional IRAs

Traditional IRA Pros

Traditional IRA Cons

Is a SIMPLE IRA or Traditional IRA Right for You?

Can I Have Both a SIMPLE IRA and a Traditional IRA?

Can You Convert a SIMPLE IRA to a Traditional IRA?

Can You Max Out a Traditional and SIMPLE IRA the Same Year?

Are SIMPLE IRAs Most Similar to 401(k) Plans?

Opening an IRA With SoFi

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