Re: IRA - Posted by Brent_IL
Posted by Brent_IL on October 21, 2003 at 07:54:42:
I?m not an authority on retirement plans, but I know that you can mix-and-match SEP, SIMPLE, and other plans to dramatically increase the amount of annual contributions well beyond $3,000.
I copied the following from the Equity Trust website.
?Catch up? Contributions
In order to allow Americans, who have reached the age of 50, to enjoy the full benefit of the new increased contribution limits, the law allows these individuals the ability to contribute more to their retirement account. These so called ?Catch Up? contributions will allow an individual the ability to catch up on their retirement savings. In order to qualify for the ?catch up? contribution an individual must have reached the age of 50 in the year in which they make the ?catch up? contribution.
Year Traditional/Roth Catch up