A new study from Investment Company Research to examine the role of IRAs in Americans' retirement preparedness. The study is the first comprehensive survey of it's kind to be completed since 2008. We wanted to share this information with readers of IRAcontributionlimits.com because it shows an alarming and … [Read more...]
Open a Roth IRA for Tax Benefits and Savings
Don't wait until you are retirement age to think about opening a Roth IRA. Everyone knows they should save for retirement and in the meantime open a Roth IRA account. Many of us neglect to fully take advantage of these tax-deferred investment vehicles. Whatever the reason for putting off securing your financial future, … [Read more...]
401k Contribution Maximum Limits 2022
Each year the IRS lays out rules that determine the 401k contribution maximum limits for an individual contributing to a 401(k). Generally, the IRS adjusts this amount with inflation, and these 401k contribution limits and withdrawal rules are changing both in the years 2022 and 2021. This is important because 401k's, … [Read more...]
5 IRA Mistakes that Cost You Money
In July of 2013, the Worker's Retirement Institute reported that the average value of IRAs (Individual Retirement Accounts) in the United States fell to less than $28,000 the lowest number in a decade. This means Americans, some unemployed, must work even harder to pay for their retirement. The sad part is that most … [Read more...]
