On January 1, 2008, Americans will be permitted to contribute more than ever to their individual retirement accounts. In fact, the maximum contribution amount for some individuals will be three times more than it was just a few years ago.
2008 marks the first year qualifying IRA owners may contribute up to $5,000 to a Traditional or Roth IRA. IRA owners who are age 50 or older by the end of 2008 can contribute an additional $1,000!
This is a great opportunity for you whether you are just starting to save for retirement or the expenses of raising a family have sidetracked you from your original retirement savings goals. A $5,000 contribution could be just what you need to get your IRA back on track.
Come in early and contribute the maximum amount for the 2008 tax year! The earlier you put your contribution in, the longer your money has to work for you. There has never been a better time for you to pick up the pace and reach your financial goals.