Is it really free?
For the saver: no account establishment fee, no maintenance fee, no closing fee from MyFreeIRA. Investments themselves carry their own expense ratios, stated on each option — see what it costs.
What happens when I change jobs?
Nothing. The IRA is yours, not your employer’s — the payroll deduction stops with the old paycheck and can restart with the new one, but the account, the money, and the investments don’t move because you did.
Roth or Traditional — which should I pick?
Roth means after-tax money in, qualified withdrawals tax-free later; Traditional may mean a deduction now, taxes later. Which is better depends on your tax situation — we explain the difference in Resources but don’t choose for you; a tax professional can.
How much can I contribute?
The IRS sets annual limits that change over time, with a catch-up amount for savers 50 and older — current figures are kept in Resources.
Is my money locked up?
It’s your account; you can always access it. Taxes and, in some cases, penalties may apply to early withdrawals depending on account type — that’s IRS law, not a MyFreeIRA rule.
Who holds my money?
Accounts are custodied at Investor Services, a regulated custodian — MyFreeIRA is the workplace experience on top of that custody. See security.
What does my employer see?
Your employer facilitates the payroll deduction — they don’t see your balance, your investments, or your transactions. The account is yours alone.
What if I already have an IRA or old 401(k)?
You can generally consolidate through a rollover — see transfers and rollovers for how that works without triggering taxes.
How do I get help?
Email support@myfreeira.com, or see every mailbox on the contact page.