For the second year in a row, the contribution limits are increasing for people who want to save money in a Roth IRA (individual retirement account). But since the Roth IRA was meant for low-to-moderate income earners, you'll have to meet the income requirements to gain direct access to the account in 2024. Fortunately, the income ranges for the Roth IRA are also going up in 2024, allowing you to earn more money and still take advantage of the Roth account.

But if you've hit the six-figure mark and aren't sure if you still qualify to contribute to a Roth IRA, we've jotted down the most important numbers you need to pay attention to in 2024.

Image source: Getty Images.

Continue reading

Source Fool.com