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Roth IRA Contribution Limits for 2024 Are Bigger Than Ever

TheMotleyFool

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Roth IRA Contribution Limits for 2024 Are Bigger Than Ever: https://g.foolcdn.com/editorial/images/754202/portrait-of-shocked-lawyer-surprised-emotional-it-manager.jpg

Stashing money away in a Roth IRA (individual retirement account) can lead to huge rewards during retirement.

For example, if you managed to build a million-dollar Roth IRA, you could withdraw all your funds 100% tax-free after you reach age 59 1/2 and have checked the boxes on the other rules.

But having a chance at building a massive Roth IRA will depend on several factors. For one, you have to contribute money to the account and invest in assets that can supercharge your portfolio. The good news is that the Roth IRA contribution limits for 2024 have been bumped up, so you can tuck away more money in your account to get you closer to your retirement goals.

Source Fool.com

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