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Traditional Ira Limits

Traditional IRA limits are in place for anyone that contributes to an IRA. The amount of the limit is dependent on your age at the time of funding the account as well as the tax year rules, which change from time to time. For 2009, those under the age of 50 are able to contribute as much as $5000 to their IRA. Those who are older than age 50 prior to the start of 2010 will be able to invest as much as $6000 into their IRA. These limits are split between IRA's and Roth IRAs for those who have both types of accounts.

Fast Facts

    • Those who have more education often have more income and in return are most likely to have retirement accounts earlier in life.
    • Those who have more education and more income are more likely to have more money put away for retirement through retirement plans than those without.

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    In the world of finances, there is one thing everyone is sure of: everyone retires.  Every single person in th...
    • Site: financialplannernetwork.com
    • 3 of 4 user(s) found this useful
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