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Message
re: Saving More for Retirement - Trad IRA vs Normal Brokerage Account
Posted on 5/9/24 at 8:42 pm to SquatchDawg
Posted on 5/9/24 at 8:42 pm to SquatchDawg
quote:
want to fund after tax IRA for future Roth transfer, what’s the annual contribution limit
From FAQ on Schwabb - "Anyone with an earned income and their spouses, if married and filing jointly, can contribute to a Traditional IRA. There is no age limit. There are no income limitations to contribute to a non-deductible Traditional IRA, and the maximum contribution per year is $6,500 for tax year 2023 and $7,000 for tax year 2024 ($7,500 for tax year 2023 and $8,000 for tax year 2024 if you're age 50 or over)."
I believe the limit for 2024 is $7,000 combined for contributions to a Trad and Roth IRA.
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