13 Days Remain to Make a 2007 IRA Contribution
As the tax deadline slowly creeps up on us, so too does the deadline to contribute to a 2007 IRA (Individual Retirement Account). IRA’s, which historically have served as a secondary retirement plan for most individuals, are a great way of paying less in federal income taxes while still saving for your future.
For more information on the differences between a Roth vs. Traditional IRA click here. $
Yearly Contribution Limits for both Traditional and Roth IRA
YEAR AGE 49 & BELOW AGE 50 & ABOVE
2002-2004 $3,000 $3,500
2005 $4,000 $4,500
2006-2007 $4,000 $5,000
2008 $5,000 $6,000
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Comments
Timely reminder – thanks! I really need to get in gear this year and max out a Roth for 2008.
Thank you for the reminder. I’ve been so busy lately, but this needs to be done.