For those over the age of 50 , 6,500 is the Roth IRA maximum contribution limit. The limit is lower at 5,550 for those under 50. These numbers are for both traditional and Roth IRA's combined.
The $5,000 annual IRA contribution limit is per customer. You maximum contribution amount is determined by adding contributions to all of your IRA accounts (both traditional and Roth).
There are many rules that apply to both traditional and Roth IRA accounts. A rule that applies to both kinds of accounts is the annual maximum contribution limit of $5,000 ($6,500 if you are over 50).
No max for Roth...can contribute money into IRA forever. Non-roth have an age limit of 70 1/2
There is one main difference between a 401k and a Roth IRA. The maximum contribution limit for a 401k is about three times that of an IRA.
Yes.as long as you do not contribute more than your annual limit.
You can have as many Roth IRAs as you like. However, total contributions for all accounts must not exceed the annual maximum contribution.
For 2013, the maximum you can contribute to all of your Roth IRA's is the smaller of $5,500 ($6,500 if over the age of fifty) or your taxable compensation for the year. The IRA contribution limit does not apply to Rollover contributions or Qualified Reservist payments.
No. The combined total you contribute to all of your accounts must be less than your annual maximum.
The cost of living adjustments have been made to the 2013 Roth IRA maximum contributions. If you are above 50 the maximum amount you can contribute is $6500.
You can contribute to both traditional and Roth IRAs in the same year. However, you total contribution to all IRA plans must not exceed the maximum contribution limit of $5,000 ($6,500 if over 50).
Yes. An individual may make IRA contributions to both a Roth and aTraditional IRA, providing the combined contribution total does not exceed the contribution limit for the year.