Roth Contribution Limits for 2014

[bjl584]

http://www.kiplinger.com/article/retirement/T047-C001-S003-retirement-account-contribution-limits-for-2014.html

It looks like no changes for Roth contribution limits for 2014.

[kork13]

Sadly, this is no big surprise... Inflation is currently pegged at around 1.2% annually, which would mean a $66 adjustment to last year's bump up to $5500... Since they only adjust for inflation in amounts of $500 and they haven't unilaterally raised the IRA contribution limit beyond the inflation component (which many here would love to see...lookin' at you, DisneySteve), I had no expectation of it changing this year... Really, it probably won't adjust upward again for another 3-4 years if inflation stays roughly in the 1.5%-2.5% range.

[humandraydel]

and they haven't unilaterally raised the IRA contribution limit beyond the inflation component (which many here would love to see...lookin' at you, DisneySteve)

I must admit the laws don't make sense - especially now that a lot of people have access to a Roth 401k. There really is no reason they shouldn't just make IRAs have the same limit as a 401k.

It makes me wonder - has anyone ever tried a petition? Isn't there some rule that if a petition on whitehouse.gov gets 100k signatures the President has to at least "look" at the petition?

[wikiwiki]

Is it generally best practice to max out the Roth each year, in lieu of 401k or other savings? And do you have until April 2014 to contribute for 2013?

[disneysteve]

Is it generally best practice to max out the Roth each year, in lieu of 401k or other savings? And do you have until April 2014 to contribute for 2013?

If your employer matches your 401k contributions, put in enough to get the full match. That's free money. Then fund your Roth. If you still can save more after that, return to the 401k.

And yes, you have until April 15, 2014 to get your 2013 contribution in, but don't delay intentionally. It is best to get the money in as soon as you are able.