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Asked 10/22/2007

Limits: 401K, Roth 401K, IRA, Roth IRA?

Hi, can someone help with these limits... assuming the person is under 50.

1. 401K: $15,500 per year?
2. Roth 401K: Unlimited?
3. IRA: $4,000 per year?
4. Roth IRA: Unlimited?

Thanks a lot!

 
 
 
 
 
 
Answers

Answer 1/2 - Submitted 10/22/2007

For 401(k) info: www.401k.org

For IRA info: www.ira.com

 
 

Answer 2/2 - Submitted 10/22/2007

Roth limits are same as traditional:

15,500 for 401k and 4,000 for IRA.

Only difference is that income limits don't apply for Roth 401k making them appealing for small business owners who otherwise wouldn't get to contribute to a ROTH due to income limitations.

 
 
 
 

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