The Hello Bar is a simple notification bar that engages users and communicates a call to action.

Roth & Traditional IRA Contribution Limits

IRA CONTRIBUTION LIMITS
YEAR AGE 49 & BELOW AGE 50 & ABOVE
2012 $5,000 $6,000
2011 $5,000 $6,000
2010 $5,000 $6,000
2009 $5,000 $6,000
2008 $5,000 $6,000
2007 $4,000 $5,000
2006 $4,000 $5,000
2005 $4,000 $4,500
2002-2004 $3,000 $3,500
1998-2001 $2,000 $2,000

*Updated 1/1/2012

2011 and 2012 Combined Traditional and Roth IRA Contribution Limits

I do my best to keep this up to date, but PLEASE check w/ IRS.gov to make sure 100%.  I am no professional ;)  Here’s what the IRS states for 2011 and 2012:

If you are under 50 years of age at the end of 2012: The maximum contribution that can be made to a traditional or Roth IRA is the smaller of $5,000 or the amount of your taxable compensation for 20112. This limit can be split between a traditional IRA and a Roth IRA but the combined limit is $5,000.The maximum deductible contribution to a traditional IRA and the maximum contribution to a Roth IRA may be reduced depending on your modified adjusted gross income.

If you are 50 years of age or older before the end of 2012: The maximum contribution that can be made to a traditional or Roth IRA is the smaller of $6,000 or the amount of your taxable compensation for 2012. This limit can be split between a traditional IRA and a Roth IRA but the combined limit is $6,000. The maximum deductible contribution to a traditional IRA and the maximum contribution to a Roth IRA may be reduced depending on your modified adjusted gross income.

(See Publication 590, Individual Retirement Arrangements (IRAs), for additional information.)

{ 2 comments… read them below or add one }

1 MAI August 4, 2010 at 7:02 am

I this tough economy, if you had $5000 to invest for the long term how would you choose to do it? What would Warren Buffet do?

Reply

2 J. Money August 10, 2010 at 5:06 pm

Funny you should mention that ;) I just invested $5,000 in my Roth w/ help from Buffett! (Although I don’t recommend this for everyone):

http://www.budgetsaresexy.com/2010/07/warren-buffett-helped-me-max-out-my-roth-ira/

Reply

Leave a Comment