OK, I know it's only October, but it's always good to be thinking ahead. This is just a quick note to remind you and me (because I always forget these things and have to go look them up again) that the 2008 IRA contribution limit is $5000 for both Traditional and Roth IRAs

If you happen to be over 50 years old, your 2008 IRA contribution limit is $6000 because you are eligible for catch-up contributions.

Speaking of catching up, you've made your $4000 IRA contribution for 2007 already, haven't you?

Finally, 2008 is the last year for scheduled increases. After 2008, IRA contribution limits will be indexed to inflation and increase only in $500 increments.