For those who have IRAs, including self-directed, Roths, and traditional IRAs, you should know that Congress passed and President Bush signed a major pension law in 2006. Some of the features of that bill may be very important to Individual Retirement Account investors. These are significant changes that can really affect your overall contribution limits for the next several years.
More importantly, contribution limits have been made permanent-increases to $5,000 for individuals under 50 and $6,000 for those over 50 are secure. Furthermore, after 2008 the contribution limits will continue to adjust with inflation. This is an absolutely important feature since your contribution limits will be able to stay on pace with inflation and you do not have to worry that your investments will lag behind.
This is some of the most amazing news for investors of all ages ranging from first time and young investors, to middle age investors trying to play catch-up on their retirements, all the way to the seasoned citizen who is finalizing their retirement in the next few years.
We all want our money to work hard for us and to be able to give a little more to our future as we get older. This is the news we have been waiting for. We will be able to give more each year as IRA contribution limits increase over time, with inflation.
If you have not started investing then this is the best time in history to start. The market is at a lower level, Real Estate is at the deepest discounts in 75 years, and the future is brighter than ever.
Be sure to speak with a professional if you are looking to develop a savings plan for the first time, but if you have some experience, be sure to invest your IRA in Real Estate. You will be glad you did!
Paul R. Whitacre is a managing partner at WealthyIRA.com. Our vision is to teach others to invest their IRAs and 401(k)s in the deepest discounted Real Estate in decades. Check out more at our http://www.WealthyIRA.com blog and follow us on Twitter at http://www.Twitter.com/WealthyIRA
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