Permalink Submitted by Jose Morales on Tue, 2008-10-21 18:22
There is a maximum contribution amount which is:
The lessor of 100% of earned income up to $5,000 with a $1,000 catch up contribution for those over the age of 50 (and under the age of 70 1/2 for a Traditional IRA)
There is no maximum allowable IRA account balance. You are free to accumulate as much in earnings as your investment options allow for.
If by chance you are asking about FDIC insurance limits, certain individual retirement accounts are covered up to $250,000.
Permalink Submitted by Jose Morales on Tue, 2008-10-21 18:22
There is a maximum contribution amount which is:
The lessor of 100% of earned income up to $5,000 with a $1,000 catch up contribution for those over the age of 50 (and under the age of 70 1/2 for a Traditional IRA)
There is no maximum allowable IRA account balance. You are free to accumulate as much in earnings as your investment options allow for.
If by chance you are asking about FDIC insurance limits, certain individual retirement accounts are covered up to $250,000.