|
IRA contributions are $5,000 in 2010 and may be indexed to inflation thereafter in increments of $500. To illustrate the impact of this, a 25-year-old saving $2,000 a year – and earning an assumed 8% return – would accumulate about $518,000 by age 65. If a 25-year-old were to take full advantage of the proposed increases and earned the same return, he or she would have nearly $1.1 million at age 65.* How will higher contribution limits affect you? Enter your information below, and see how your retirement savings may grow.
|
|
|||||||||||||||||||||||||||||