IRA and Retirement Plan Limits for 2020

IRA and Retirement Plan Limits for 2020

IRA Contribution Limits

The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2020 is $6,000 (or 100% of your earned income, if less), unchanged from 2019. The maximum catch-up contribution for those age 50 or older remains at $1,000. You can contribute to both a traditional IRA and a Roth IRA in 2020, but your total contributions can't exceed these annual limits.

 

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Market Week: November 11, 2019