Alright, let’s dive into this. A Silver IRA? Pretty cool, right? It’s like a traditional or Roth IRA, but with a shiny twist: silver. So, as for contribution limits, they’re basically the same as those for traditional and Roth IRAs. Now, as of my last update in 2021, you could pitch in up to $6,000 a year if you’re below 50 years old. Got some more candles on your birthday cake and you’re 50 or older? You get a bonus and can contribute an extra $1,000, making it $7,000. Remember, this number might change, so always keep an eye out for updates from the IRS.
But here’s the fun part: instead of traditional assets, you’re diving into precious metals. It’s another way to diversify and think long-term. Just like how we at ARK Invest always keep our eyes on disruptive innovation, you’re looking at an age-old store of value. Stay curious and keep exploring!