If you’re planning for retirement and looking for a user-friendly investing platform, Public is a solid option. This step-by-step guide will walk you through how to open an IRA account on Public, from creating a basic brokerage account to choosing your IRA type and funding your investments. We will also show you how to navigate the platform, buy and sell assets, and understand your investment options. Whether you’re a beginner or a seasoned investor, learning how to open an IRA account on Public can set you on a path toward long-term financial growth.
Step 1: Create a Public Account
Before you can open an IRA account on Public, you must first create a regular brokerage account.
Sign-Up Process
To begin, go to the Public website or download the app. Click Get Started and follow these steps:
- Enter your email address, create a password, and provide a phone number.
- You’ll receive a six-digit verification code via text. Enter this code to continue.
- Provide your personal information, including:
- Date of birth
- Citizenship status
- Employment details (employer and job title, if employed)
- Marital status and number of dependents
- Any affiliations with publicly traded companies, securities firms, or political exposure (most users will select “None of these apply”)
After completing the identity check, you’ll be prompted to enter:
- Your full name and residential address
- Your Social Security Number (SSN)
This is necessary for tax reporting and account verification.
Step 2: Choose Account Type (Cash or Margin)
Before you can open an IRA account on Public, you must choose between a cash account and a margin account for your general brokerage profile.
Understanding the Options
Cash Account:
- Invest only with deposited funds
- No borrowing or leverage
- Lower risk, ideal for beginners
- Includes basic options trading (level 2)
Margin Account:
- Allows borrowing money to buy securities
- Higher potential gains, but also higher risks
- Subject to margin calls and interest fees
Most long-term investors should select a cash account, especially if they want to avoid the complexity and risk of margin trading.
Once you choose, agree to the terms and conditions and submit your application.
Step 3: Define Your Investing Profile
Next, Public will ask questions to build your investing profile:
- Goals (e.g., growth, income, capital preservation)
- Annual income, net worth, and liquid cash
- Investment preferences (e.g., stocks, ETFs, crypto, bonds)
This helps Public personalize your dashboard, but you can update it later if needed.
Step 4: Fund Your Account
Now it’s time to fund your brokerage account:
- Choose Add a Funding Method
- Options include:
- Instant bank link (most convenient, uses Plaid)
- Wire transfer
After linking your bank, enter the deposit amount and authorize the transaction. For this tutorial, $30 was deposited, which became available immediately for trading.
Step 5: Open an IRA Account on Public
Once your standard account is funded and active, you can proceed to open an IRA account on Public.
How to Access the IRA Section
- On the main dashboard, scroll down until you find the Explore IRA box.
- Click to begin the process of opening your retirement account.
Choose the Right IRA Type
Public offers three IRA options:
- Traditional IRA
- Roth IRA
- Both (dual setup)
Key Differences
| Feature | Traditional IRA | Roth IRA |
|---|---|---|
| Tax treatment | Contributions may be tax-deductible; withdrawals taxed | Contributions made with after-tax dollars; qualified withdrawals are tax-free |
| Income Limits | No contribution income limit | Income limits apply |
| RMDs (Required Minimum Distributions) | Required after age 73 | No RMDs during lifetime |
Selecting Your IRA Type
If you’re unsure, take time to learn more before committing. In this walkthrough, we’ll proceed with a Traditional IRA. Steps are the same for a Roth IRA.
- Select Traditional IRA
- Review the contribution limits:
- $7,000 for 2025
- $8,000 if you’re 50 or older
- Note the early withdrawal penalty (before age 59½)
- Confirm your investment goal for retirement
- Accept the terms and click Open Account
Congratulations! You have now successfully opened an IRA account on Public.
Step 6: Buy and Sell Investments
Once your IRA account is active and funded, you can begin investing.
How to Buy an ETF or Stock
- Use the search bar to find a stock or ETF. For example, search for SHD (Schwab U.S. Dividend Equity ETF).
- Review the ETF’s details, including:
- Chart and performance
- Dividend yield
- Expense ratio
- Holdings and average annual return
- Choose to buy in shares or dollars. Enter the amount and place a market order.
- Click Review Order, then Submit to complete the purchase.
How to Sell an Investment
- Go to your dashboard and click the asset (e.g., SHD)
- Click Sell in the top right corner
- Choose to sell in dollars or full shares
- Review the transaction (note any minor fee)
- Click Submit Order
Step 7: Explore Additional Features
Once you’ve learned how to open an IRA account on Public and made your first trades, take time to explore what else the platform offers.
Dashboard Tools
- Pie chart to view asset allocation
- Dividend tracker with expected income
- Account value tracker
Additional Investment Options
- Crypto: Enabled during account setup; trade like stocks
- Options: Can be enabled later
- Treasuries: Minimum $1,000 investment
- Corporate Bonds: Varying minimums (e.g., Nvidia bond yields 5.12%)
Investment Plans
- Prebuilt portfolios, such as High Income Dividend Paying Plan with 20 dividend-focused stocks
- Act as themed index funds but may lack transparency in yields
Summary
To open an IRA account on Public, follow these structured steps:
- Create a regular Public account
- Choose between a cash or margin account
- Set your financial profile and goals
- Fund your account
- Navigate to the IRA section and open either a Traditional or Roth IRA
- Start buying and selling investments
- Explore crypto, bonds, options, and investment plans
The platform is intuitive and rich in features, offering flexibility for various investor types. While some fees (like optional tipping or trade fees) may be unconventional, overall, Public provides a comprehensive investing experience — especially for those looking to open an IRA account on Public and manage retirement goals with clarity and ease.
Whether you’re aiming for long-term wealth, dividend income, or a diversified retirement plan, learning how to open an IRA account on Public is a smart step forward.
