Quote:
Originally posted by Yakk
Pre-tax or getting a tax deduction (income deduction, more precicely) is the same thing, different pile.
Is there any limit to how much money you can put into an IRA?
|
IRA - contribute up to $3k annually, $3500 if you are over 50. Phase-out limits on deductible contributions if your AGI is over a certain limit.
401(k) - much, much more. $12k in 2003, or $14k if you are 50 or over.