Personal Finance Buzz

If you’re looking to contribute to a new or existing Roth IRA or traditional IRA in 2011, we have the information to let you plan ahead. There are some slight changes to the income limits from the 2010 limits, but not the contribution limits. While the maximum contribution hasn’t changed, there are some slight changes to the income limits that phase out the allowable contributions or deductions.

IRA Contribution Limits for Both Roth and Traditional accounts have been announced for 2011. View our chart to find out what the new IRA Contribution Limits are.

The Roth IRA contribution limits and traditional IRA contribution limits have been published for 2011. See this table of annual IRA contribution limits for 2011, 2010, and several older years.

There is still time to contribute to your 2010 retirement accounts. If you’re starting your 2011 contributions with the new year, consider the limits for 2011 are not changing. The combined contribution limit across traditional and Roth IRAs is $5,000.

IRA contribution limits are updated every year so that your traditional IRA and Roth IRA contributions have a chance of keeping up with inflation and the resulting cost of living increases. For 2011, with inflation low, there is no change.

There is still time left to contribute to 2010 Traditional and Roth IRAs. You have until you file your 2010 taxes to make that contribution. Federal taxes for 2010 will be due on April 18, 2011, so this is the deadline for establishing your 2010 IRA.