Airline Pilot Central Forums - 401(k) contribution limits increase

Quote:

Originally Posted by Name User (Post 2702529)

No, it doesn't. Income doesn't dictate one's ability to contribute to an IRA (assuming you earned enough to contribute, you cannot contribute if you don't earn income, but I assume you weren't referring to that).

Well....first I believe you meant income limits, as contribution limits are definitely a thing. And there certainly are income limits for the three different types of IRA contributions one may be able to make:

1) Traditional, deductible (limited)
2) Roth (limited differently)
3) Traditional, non-deductible (not limited)

I suspect you know that, but remember not everyone is nearly as up to speed on this stuff as I believe you are.