Working people should also look into the ABLE-to-work program which could mean a higher contribution and additional tax credits.Since PA has a flat 3.07% state income tax rate, I suppose that makes it a bit better. if the entire 19K is contributed each year.
If eventually there's no earned income, it's moot.
Not federal deductible so not quite like an IRA.
https://www.ablenrc.org/able-to-work-act/
Statistics: Posted by typical.investor — Tue Feb 18, 2025 12:16 am — Replies 10 — Views 505