Contributions to individual retirement accounts have hit a record high, driven by enthusiasm for Roth contributions and increased awareness about the need for retirement security, Fidelity Investments said.
Americans have until the tax deadline on April 15 to make contributions to their IRA accounts for 2025. The maximum combined traditional IRA deduction or Roth contribution is $7,000 in 2025, or $8,000 for people age 50 or older.
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