What’s My Roth IRA Limit?

In our latest video, we’ll be diving into the world of Roth IRAs, specifically focusing on the contribution limits for 2024.

 

As background, a Roth IRA is a unique retirement savings account that offers significant tax advantages to investors because contributions to a Roth IRA are made with after-tax dollars, meaning you pay taxes upfront. 

 

There are restrictions on how much you can contribute each year to a Roth IRA though and those limits depend on your income, tax filing status, and how much you’ve contributed to other IRA accounts.  Whether you’re a seasoned investor or just starting out, understanding these limits is important for your retirement planning.

 

This year, the IRS has increased the contribution limits for Roth IRAs. If you’re under the age of 50, you can contribute up to $7,000, and if you’re 50 or older, you can contribute as much as $8,000.

 

In this video, we’ll explain the increased limits in detail and provide strategies for maximizing your Roth IRA contributions in order to grow your tax-free retirement savings.

 

In our latest video, we dive into the key differences between wills and trusts, offering you clear, concise, and easy-to-understand explanations. We discuss their unique benefits, how they function in estate planning, and why choosing one over the other might suit your circumstances better.

 

Whether you’re just getting started with estate planning or reevaluating your current plan, this video is a must-watch! It’s time to plan wisely and secure your future.

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Call (936) 800-0800

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