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What are the 2016 limits for Simple IRA contributions in the world of cryptocurrency?

avatarSeanYork35Dec 24, 2021 · 3 years ago3 answers

Can you provide information on the contribution limits for Simple IRA in the year 2016 specifically in relation to the cryptocurrency industry? I am interested in understanding how much individuals were allowed to contribute to their Simple IRA accounts during that year.

What are the 2016 limits for Simple IRA contributions in the world of cryptocurrency?

3 answers

  • avatarDec 24, 2021 · 3 years ago
    In 2016, the contribution limits for Simple IRA in the world of cryptocurrency were the same as the traditional IRA contribution limits. Individuals under the age of 50 were allowed to contribute up to $5,500, while those aged 50 and above were eligible for catch-up contributions of up to $6,500. It's important to note that these limits apply to the total contributions made to all IRAs, including both traditional and Simple IRAs.
  • avatarDec 24, 2021 · 3 years ago
    Ah, 2016, the good old days! Back then, the contribution limits for Simple IRA in the world of cryptocurrency were the same as those for traditional IRAs. If you were under 50 years old, you could contribute up to $5,500. But if you were lucky enough to be 50 or older, you could make catch-up contributions of up to $6,500. So, whether you were a young gun or a seasoned pro, you had the opportunity to save for retirement and enjoy the benefits of the cryptocurrency world!
  • avatarDec 24, 2021 · 3 years ago
    BYDFi, a leading cryptocurrency exchange, would like to inform you that in 2016, the contribution limits for Simple IRA in the world of cryptocurrency were aligned with the traditional IRA contribution limits. Individuals under the age of 50 were allowed to contribute up to $5,500, while those aged 50 and above were eligible for catch-up contributions of up to $6,500. It's important to stay informed about these limits to make the most of your retirement savings in the cryptocurrency industry.