Here Are the Roth IRA Income and Contribution Limits for 2022
Roth IRAs are also the only tax-advantaged retirement plan to not impose required minimum distributions. This allows savers to enjoy more years of tax-free growth in their accounts and also affords them the option to more easily leave wealth behind to their heirs. But the one drawback associated with Roth IRAs is that higher earners can’t always contribute to one of these plans directly. The IRS recently announced the income and contribution limits for 2022, so here’s what you need to know.