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3 responses

14 09 2014
Frustrated American

Either way, taxed, not taxed. I am pretty sure I went to work yesterday to earn the money I want to invest tomorrow. What this does? It truly limits the middle class on how much they can contribute to retirement. Responsible living is living below your means, that is what I want to do so I do not have to worry when I “retire.” By the way, I am 33, going to college, paying for it myself, working full time with a very fortunate job/position that I have worked my butt off to get. I am truly frustrated how our government is regulating even 40 years out on my lifespan telling me how much I am allowed to plan for in my retirement. It amazes me how we have been conditioned to plan for the lack of struggle and lack of worry rather than planning for the enjoyment in retirement. What the hell is wrong with the system? Really? Allow people to plan just enough to get by, don’t plan to enjoy anything, just get by. Its time politicians evaluate things, 5k is hardly enough to write off for college these days, and 1.5m is hardly enough to retire on in 30 years. We don’t live in the 50’s anymore, get with it.

5 06 2012
Rudy

I think they waived the income threshhold for Roths this year. I havent been able to contribute for a few years but now I can.

5 06 2012
wealthguards1

Actually Rudy, the income limits are still there for NEW contributions to a Roth. However, they did eliminate the income limits for conversions of IRA or 401(k) dollars to a Roth. Previously, the income limit was $100,000; now it does not exist.

Income limits for a Roth IRA are $173,000 – $183,000 for married filing jointly, $110,000 – $125,000 for single filers, and $10,000 for married filing separately.

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