Your Wealth Questions

IRA Question

Q: I’m not eligible for my company’s 401(k) yet, so I’m contributing to my own IRA. I’m married and we file jointly. We are both over age 50. Does the $6,500 limit apply to both of us together or just me? I can’t tell the answer from the IRS website and I don’t want to get hit with excess contribution penalties

A: The IRA contribution limit applies to the individual, therefore both you and your wife are eligible to contribute $6,500 each to your own IRAs.

Ready when you are

Build your customized strategy with our team.

Start with a conversation about your goals, questions, and how a holistic plan could simplify your financial life.

Schedule an intro call

Continue reading

View all articles
Retire Sooner Podcast

Retirement Beyond Your Portfolio | Retire Sooner Podcast

November 12, 2026
Money Matters Podcast

Retire With $500K? Key Questions | Money Matters Podcast

November 12, 2026
when to hire a financial advisor
Blog

When to Hire a Financial Advisor: 4 Signs It May Be Time

November 11, 2026
Retire Sooner Podcast

Retire on $500,000? Car Costs & Social Security

November 5, 2026