If I earn more than $5,500 in 2016 ($6,500 if I am 50 or older by the end of 2016), is there a limit on how much I can contribute to a Roth IRA?
Yes. For 2016, you can contribute to a Roth IRA up to:
- $6,500 if you are age 50 or older by the end of 2016
However, the amount you can contribute may be less than that depending on your income, filing status, and if you can contribute another IRA.
Please contact one of our IRA Experts at 800-472-0646 for more information.