When deciding between a Roth IRA vs Traditional IRA, you should first determine whether you think your taxes will be higher or lower in retirement (or what your expected income will be upon retirement).
If you believe your tax rate will go down in retirement, you’re probably better off contributing to a Traditional IRA. If, on [...]
2010 Contribution Limits
The 401(k) contribution limit for is $16,500 for those under 50 years old. For anyone between the ages of 50 and 59 ½ years old you also have the option of contributing an additional $5,500 as a catch-up contribution.The IRA contribution limit for is $5,000 for those under 50 years old, with a $1,000 catch-up contribution option for those between 50 and 59 ½ years old.
About This Site
This site is intended to provide general information about 401k rollover options and IRA retirement plans. Nothing on this site should be considered legal, financial or other advice of any kind. If you're looking for professional advice, you should consult with an independent financial adviser.Additional Resources
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