The case for higher IRA contribution limits

The federal government can raise the contribution limit to IRA and other retirement plans to help people boost their retirement savings, writes Michelle Perry Higgins, a financial planner and principal at California Financial Advisors. The maximum contribution amount remains very low despite gradual increases over the years, Higgins says. "Increasing the amount that could be contributed would be an added incentive to many people such as workers whose employers do not have a retirement plan or to non-working spouses who may be eligible for a spousal IRA." –The Wall Street Journal

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