For long term savings, we encourage you to set up an Individual Retirement Account (IRA). It's the best way to guarantee a worry-free retirement and contributions may be tax deductible. An Individual Retirement Account is a special savings plan authorized by the Federal Government to help you accumulate funds for your retirement.
Traditional & Roth IRA Contribution Limits
The 2009 and 2010 annual contribution limit is $5,000 per taxpayer.
Catch-Up Contributions for Persons 50 Years Old or Older
For the years 2009 and 2010, individuals who are 50 and older, being closer to retirement, will be allowed to make "catch-up" contributions to their IRAs. These contributions can be added to the new contribution limits mentioned above.
Still subject to the same rules for Traditional and Roth IRAs, $1,000 extra in contributions will be allowed.
Start saving for your future today!
IRA's
