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The "post-it" note I have tacked to the wall shows the contribution limit for 2004 is $3000 for young folks (under 50)but us seniors 50 and older are allowed a $3500 contribution.

Be careful however because there are also income cutoff limits and you must have "earned" income before you can contribute to an IRA. Pension, captial gains and interest income don't count as "earned" income.

PS: the contribution limit in 2005 is $4000 (>50 $4,500)

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