Feb 24

Why are annual contributions to Roth IRAs limited to $5,000?

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I guess I am asking WHY that is the law. I’m assuming lawmakers didn’t blindly choose $5,000 as the cap….


2 comments so far...

  • tjfinvestor Said on February 24th, 2010 at 3:57 pm:

    It is what the law allows unless you are 50 or older and then it is $6,000 for 2008 and 2009.

  • $so fresh so clean$ Said on February 24th, 2010 at 4:21 pm:

    Because the government doesn’t want you with too money. I mean, no one needs million of dollars right? (sarcasm)

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