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Investment Limits 2006

Each year, there are limits on the amount of funds you can set aside in tax assisted investment accounts. In 2005, 401(k) accounts had a limit of $14,000 for the year. For a Traditional or Roth IRA, your limit was $4,000. In addition, you could contribute $4,000 to an IRA for a non-working spouse.


While the IRA scene seems bleak (IRA limits are set to increase to $5,000 annually, beginning is 2008), there is a nice increase for 401(k) accounts this year, to $15,000.




Here is a nice little chart of investment limits for the past couple of years.










YearTraditional
& Roth IRA
Simple IRA401(k), 403(b),
& SEP
Coverdell ESA
StandardCatch-upStandardCatch-upStandardCatch-up
2004$3,000$3,500$9,000$10,500$13,000$16,000$2,000*
2005$4,000$4,500$10,000$12,000$14,000$18,000$2,000*
2006$4,000$5,000$10,000$12,500$15,000$20,000$2,000*
2007$4,000$5,000Indexed to Inflation$2,000*
2008$5,000$6,000$2,000*

* Coverdell limits are per child



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