If You Max Out Your IRA, Here's How Much You Could Have When You Retire
The maximum that most people can contribute to an individual retirement account, or IRA, in 2018 is $5,500. While this may seem like a lot of money to set aside, it could be a small price to pay for the long-term financial security it can buy you. Here's a look at what maxing out your IRA contribution now can do for your retirement nest egg.
For 2018, individuals can contribute as much as $5,500 to an IRA, provided they have earned income that is at least as much as their contribution. Individuals who will be 50 or older by the end of 2018 can contribute an additional $1,000, for a total maximum of $6,500.
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Source: Fool.com
