What is the IRA contribution limit for 2025?

The IRA contribution limit for 2025 is $7,000 per year, or $8,000 if you are 50 or older (the extra $1,000 is a catch-up contribution). This limit applies to the combined total of all your Traditional and Roth IRAs.

What is the difference between a Traditional IRA and a Roth IRA?

A Traditional IRA lets you contribute pre-tax dollars, reducing your taxable income now, but you pay taxes on withdrawals in retirement. A Roth IRA is funded with after-tax dollars, so qualified withdrawals in retirement are completely tax-free. The right choice depends on whether you expect to be in a higher or lower tax bracket in retirement.

Which IRA provider is best for beginners?

Fidelity is our top pick for beginners due to its zero-fee index funds, no account minimums, and excellent educational resources. Betterment is also a great option if you prefer automated investing without having to choose your own funds.

Can I have both a Traditional IRA and a Roth IRA?

Yes, you can have both a Traditional IRA and a Roth IRA at the same time. However, your combined contributions to all IRAs cannot exceed the annual limit ($7,000 in 2025, or $8,000 if you are 50 or older).

What is a Gold IRA and who should consider one?

A Gold IRA is a self-directed IRA that holds physical gold and other IRS-approved precious metals instead of stocks and bonds. It can serve as a hedge against inflation and economic uncertainty. Augusta Precious Metals is our top recommendation for Gold IRAs, with a $50,000 minimum investment.

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