IRA Essentials


The figures below are the amounts that you can contribute in both 2015 and 2016 in total for a calendar year, across all your Roth and traditional IRA's:

If you are under age 50, $5,500; and

If you are age 50 or older, $6,500.

Note: You can never contribute more than you've earned for the year.

The time frame for making IRA contributions for any given year is the calendar year plus January 1 through April 15 period of the subsequent year.

Further information on Federal tax deferred plans, including income limits on Roth IRA contributions, can be found at

https://401k.fidelity.com/public/content/401k/home/vpcontributionlimits

Normal age for non-penalized IRA withdrawals is 59 1/2, and the age for Required Minimum Distributions (RMD) is 70 1/2, Further information on RMD's can be found at

https://www.irs.gov/Retirement-Plans/Retirement-Plans-FAQs-regarding-Required-Minimum-Distributions


Recent Posts

Archive

Follow Us

  • Grey Facebook Icon
  • Grey Twitter Icon
  • Grey LinkedIn Icon