|There are new IRA rules for the year 2022. The IRS has increased the annual retirement plan contribution limit to $20,500.00 for 2022 (plus an additional $6,500.00 catch-up if you’re over age 50). All of your brokerage accounts should be automatically updated for 2022 and the contribution limit has been updated to $20,500.00.|
This means that you can put an extra $1,000 per year towards your retirement funds – so make sure to go and update your contributions so that you max out your retirement limits.
The IRS has set the annual retirement plan contribution limit to $19,500.00 for 2021 (plus an additional $6,500.00 catch-up if you’re over age 50).
Make sure you review the new IRA rules and monitor your retirement plan and contributions yearly, and account for any contribution limit adjustments that you decide to make.
Those who have IRA investments must be aware that there is an increase for the 2013 IRA contribution limits. This is definitely a good news for every IRA owner because this means that they are allowed to set aside a bigger amount of money for their retirement. This also means that they have bigger chances of achieving their financial goals upon reaching retirement age, and so they can enjoy more.