How Much Should I Contribute to a Roth IRA?

It's Your Money, Your Wealth's 60-Second Question Countdown. In just one minute, Joe Anderson answers a viewer's question about Roth IRA contribution limits. Transcription: 0:22 "I'm 49 years old and I'd like to know how much I should be putting in my Roth IRA every year so I can retire comfortably around the age of 65" 0:42 "$5,500 is the maximum [you can deposit] once you reach 50. You're 49 [years old] so that number is $5,500. There are Adjusted Gross Income (AGI) limitations to the Roth IRA. Take a look at the bottom of your 1040 form. If that's more than $131,000 if you are single or $132,000 for 2016 or if it's more than $194,000 if you're married, you cannot contribute to a Roth IRA - you make too much money" 1:17 "If you saved the maximum at [age] 50-65 ($5,500) you're going to have maybe $100,000 in retirement. That might not be enough to get you through, so you have to do some more saving" ---------------------------------------------------------------------------------------------------------- If you live in southern California and would like to schedule a free assessment with one of our CFP® professionals, click here: https://purefinancial.com/lp/free-assessment/ Make sure to subscribe to our channel for more helpful tips and stay tuned for the next episode of “Your Money, Your Wealth.” Channels & show times: yourmoneyyourwealth.com https://purefinancial.com IMPORTANT DISCLOSURES: • Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor. • Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations. • Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. • Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. • All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. • Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.

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