1. 10968 POINTS
    Tim WilhoitPRO
    Owner, Your Friend 4 Life, Brentwood TN
    The short easy answer is the maximum. For hard working Americans up to age 50 you can contribute up to $5,500 if you make up to $114,000 annually and single. If you are age 51 and up you can contribute up to $6,500 annually as the rule allows for a "catch up" for older workers. I would advise finding a trusted advisor to help with all of the details.
    Answered on June 12, 2014
  2. 1866 POINTS
    Paul RothPRO
    Senior Commercial and Annuity Specialist, Freedom Brokers, Marion, Carbondale, Harrisburg IL
    You want to pay taxes during retirement? If not, you have two choices, a Roth IRA or an IUL, or Indexed Universal LIfe. An advantage of the IUL is that there are no minimum required distributions at age 70, and you can borrow from your IUL tax free. A skilled insurance agent can provide an illustration for you. Check out the book "Tax-Free Retirement" Paperback – 2007 by Patrick Kelly
    Answered on May 25, 2016
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