27Believe t1_j2azzs7 wrote
Reply to comment by biondablonde in 17, HS Senior, In a nice place In life with stable home, want to Improve my Investing skills by septiclizardkid
Oh wow I didn’t realize that for 2023 that u can max to 6500 even if u only make 3000?!
_DeadSeaSquirrel t1_j2b0jr0 wrote
Yearly limit is the LESSER of your earned income or 6500 (ie, whichever number is smaller)
In your example, the max is 3000
hockeysnail t1_j2b0kiy wrote
No, if you only made 3000, you can only put 3000. Whichever is less: your income or 6500
biondablonde t1_j2b0pd5 wrote
No, you can't contribute more than you make. The cap is $6500 or your annual income, whichever is less.
27Believe t1_j2brkaw wrote
Totally misread. Thx
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