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Lyric

Dec 26 2001, 02:21 PM

Up to now I've been contributing $2,000 to my Roth IRA each year, but I gather the maximum is going up. What is the maximum for 2001, and what will be the maximum in 2002?

I'm single and meet all eligibility requirements.

Thanks.

Lyric

Michael Devault

Dec 27 2001, 07:34 AM

For 2001, the maximum is still $2,000.

For 2002, the maximum will increase to $3,000. In addition, if you're 50 years old or older, you can make a catch-up contribution of $500, for a total of $3,500.

Lyric

Dec 28 2001, 02:21 PM

Thank you Michael.

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