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CS Charles Schwab guide · 7 min
Schwab brokerage account or Schwab IRA
How to choose the account type on the Charles Schwab application before you e-sign.
Schwab puts the choice on the first screen
At schwab.com, Open an Account asks which registration you want. An individual taxable brokerage account lets you add and withdraw money without retirement rules. Dividends and gains you realize are generally taxed in the year they happen.
A traditional IRA and a Roth IRA are retirement accounts with IRS contribution limits that change, and with withdrawal rules. A traditional IRA may be deductible now and taxable later, if you qualify. A Roth IRA uses after-tax money, and qualified withdrawals can be tax-free if you follow the rules. Northline does not tell you which tax treatment fits your income.
Do not open both by accident
Submitting brokerage and IRA together creates two Schwab accounts and two places a later deposit can land. Open the one you came for. You can add the other later from the same login.
Joint accounts need a second owner. Skip that unless that person is part of the application and will sign.
If you are stuck on the Schwab screen
Schwab’s published phone line for an investment professional is 800-435-4000. Have your question ready. Do not read your Social Security number to anyone who called you. If you want the screen explained first, use Get help here. That ticket comes to Northline, not to Schwab.
This guide is education from Northline Guides, not a recommendation to buy or sell any security, and not a page from Charles Schwab. Broker steps change. Use Get help if you want Northline to walk through the screen. That request does not open a case at Charles Schwab.