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March 3, 2009

Can I contribute to my Traditional and my Roth IRA?

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Can I contribute to my Traditional and my Roth IRA?

Can I contribute $4,000 to my Traditional IRA and an additional $4,000 to my Roth IRA?

No. The contribution limit is a ‘per individual’ limit. Therefore, your aggregate contributions cannot exceed $5,500, or $6,500 if you reach age 50 by year-end.

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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