Save $300 now! Learn More.
Due to the current situation, please be advised that checks will take longer than usual to be processed.

Contact our Self-Directed Experts. (800) 395-5200 or Schedule A Call

Contact our Self-Directed Experts.
(800) 395-5200 or Schedule A Call

Contact our Self-Directed Experts. Schedule A Call or Leave A Message

Contact our Self-Directed Experts.
Schedule A Call or Leave a Message

IRA & Solo 401(k) Contribution Limits

Questions? Text us at (845) 253-9306.

Take the Self-Directed IRA Quiz!

Find out if a Self-Directed IRA is right for you based on your investing strategy/goals:

TAKE THE QUIZ

IRS Increases IRA Contribution Limit for 2019

As of 2019, people 50 and under can contribute $6,000 in an IRA. The amount individuals over 50 can contribute is $7,000. For SEP IRAs the limit is $57,000.

For Solo 401(k)s the limit is $57,000 (under 50) and $63,500 (over 50). Whether you’re permitted to contribute the maximum, though, will be determined by your self-employment income. Follow this link to our Solo 401(k) Contribution Calculator.

Here’s a snapshot of the contribution limits:

Retirement PlanContribution 2020: Under 50Contribution 2020: 50 and Over
IRA: Traditional and Roth$6,000$7,000
Solo 401(k)$57,000$63,500
SEP IRA$57,000$57,000
Retirement PlanContribution: Under 50Contribution: 50 and Over
IRA: Traditional and Roth2020: $6,0002020: $7,000
Solo 401(k)2020: $57,0002020: $63,500
SEP IRA2020: $57,0002020: $57,000

If you have additional questions, our experts are available at 1-800-395-5200.

2020-02-27T17:34:48-04:00 November 6th, 2018|Current Headlines, Financial News|

Custodial or Checkbook Control Plan: Which is Best for You? We Offer Both.

Contact Our Self-Directed Experts

[gravityform id="18" title="false" description="false"]

Join Our Newsletter!

Thanks!

Contact Our Self-Directed Experts