Maintaining a focus on your long-term retirement goals by contributing regularly to an IRA—regardless of market conditions—is a sound investment strategy that can help you secure your financial future.
That is why missing just one annual IRA contribution could significantly impact your future retirement savings. As you see from the chart below, a contribution of $5,000 at age 40, assuming a hypothetical annual return of 8% in a tax-deferred account, could grow to $34,242 by age 65.
Maximize Your Tax-Deferred Savings Potential.
Remember, you have until April 15, 2010, to maximize your retirement savings potential by making a contribution to your Traditional or Roth IRA for tax year 2009. Investors under age 50 can contribute up to $5,000 of earned income. The news is even better for investors age 50 or older because they can contribute up to $6,000.
Our new IRA AutoMax service makes it easy to maximize your IRA contributions. Sign up to automatically fund your IRA for 2010. Periodic contributions to your IRA will be funded from your bank account until you reach the maximum amount permitted by the IRS for that tax year.
T. Rowe Price offers additional ways to put your retirement savings to work.
- Transfer your IRA from another institution
When you’re ready to switch to T. Rowe Price, we make it easy with our EasyTransfer IRA Service. We’ll not only help you select the funds that best meet your investing needs, we’ll even handle most of the paperwork. - Roll over your old 401(k) to a T. Rowe Price IRA
Now could be a good time to move your old 401(k) to T. Rowe Price. Our retirement specialists can help you through the rollover process step by step, including contacting your former employer to move your money.
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