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Roth IRA 2019 contribution.

I am over 50 - Motley Fool said I could contribute $ 6000 plus $ 1000 for a total of $ 7000. because I am over 50 years old.
Fido said NO. Anybody else have any comments or knowledge of the subject.

Thank You

Comments

  • This is what I see. Fidelity may have given you incorrect information. It does mention income limits. Could that be it?

    The Roth IRA contribution limit is $6,000 for 2019, up from $5,500 in 2018. Retirement savers 50 and older can contribute an extra $1,000. Income limits apply. Retirement savers have yet another reason to celebrate the Roth IRA: The maximum amount that can be contributed to a Roth in 2019 has been increased by $500. Jun 11, 2019
  • Mike- are you saying then Roth IRA contribution is now 7500?Im over 60/ If so wunderbar
  • @Gary
    This may not apply to you; but perhaps for whomever..................
    If a spouse is not working, the other spouse may provide funding to a spousal Roth, etc.
    The link below also provides contribution limits, and other info.
    See this IRS page.
  • @Gary, Please see the IRS link provided above. Roth IRA contribution limit for 2019 is $6,000. For those who are over 50, an additional $1,000 is allowed as catch-up.

    For 2020, Roth IRA contribution limit remained unchange.

    If in doubt, the best is check with the original source - IRS.
  • Thanks all!!!
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