2023 and 2024 IRA Contribution Limits: Are You Making the Most of Them? | The Gold Spot

After every New Year, investors have a 3 ½ month window to make IRA contributions for the prior and current years. Right now, we're in the midst of that limited-time window. Investors have until April 15, 2023, to allocate investments to their retirement plan for 2023 and 2024 simultaneously.

The funding ceiling is $6,500 or $7,500 for 2023, depending on your age. In light of inflation and currency devaluation, these IRA contribution limits are increased for the 2024 fiscal year.

While most investors have a 401k because of their ease of accessibility and employer-sponsored structure, these retirement accounts are a mixed bag of benefits and downsides. Understanding the full range of characteristics is essential for investors looking to get the most out of their nest eggs.

Lately, there’s been an interest away from company-based retirement plans in favor of precious metals IRA plans. Also known as a gold IRA, this account allows investors to put tax-deferred dollars toward precious metals such as gold and silver.

Watch this week’s The Gold Spot to hear Scottsdale Bullion & Coin Sr. Precious Metals Advisor Steve Rand and IRA Liaison Michelle Ellis explain the IRA contribution thresholds for 2023 and 2024, how investors can take greater control of their wealth, and what a precious metals IRA can offer.

Read more here: https://www.sbcgold.com/blog/2023-and-2024-ira-contribution-limits-are-you-making-the-most-of-them/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_01232024_ira_contributions

⭐ RELATED LINKS:

Precious Metals IRA Video:
https://www.sbcgold.com/precious-metals-ira/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_01232024_ira_contributions

How to Make an Annual Contribution to Your Precious Metals IRA - 3 Easy Steps:
https://www.sbcgold.com/precious-metals-ira/gold-ira-contribution/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_01232024_ira_contributions

Gold IRA Pros and Cons:
https://www.sbcgold.com/blog/gold-ira-pros-and-cons/?utm_source=rumble&utm_medium=video&utm_campaign=goldspot_rmbl_01232024_ira_contributions

⭐ @sbcgold Advisors in this The Gold Spot video:

👤 Steve Rand, Sr. Precious Metals Advisor:
https://www.sbcgold.com/about/steve-rand/

👤 Michelle Ellis, Precious Metals IRA Liaison:
https://www.sbcgold.com/about/michelle-ellis/