Understanding IRA Contribution Limits - A Message From Collins Wealth Management Group
Published on Jan 06, 2017
It’s that time of the year again to think about IRA contributions. You can contribute up to $5,500 for 2016-2017 to a Roth IRA or a Traditional IRA. And if you’re age 50 or older, you can also make an additional $1,000 catch-up contribution for each tax year.
An IRA is one of the best ways for you to accumulate tax-advantaged retirement savings. So, you’ll want to make every effort to contribute the maximum allowed. Roth IRAs offer withdrawals free from federal tax. Traditional IRAs offer tax-deferred growth, and if you qualify the contributions are tax-deductible.
For more information about IRAs and a free copy of the brochure, Comparing Your IRA Options, please contact Collins Wealth Management Group, at 319-395-6453.
Remember the clock is ticking and the deadline for making your IRA contribution is fast approaching. The time to move on your IRA is now.
Representatives are registered, securities are sold and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (866) 512-6109. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members.