The U.S. Supreme Court in a 5 - 4 decision struck down a cap on overall contributions limits of $ 48,600 by individuals to candidates for federal office. (nystateofpolitics.com)
It does not apply to overall state limits, but experts say the decision sets a precedent which could set up a legal challenge to New York's $ 150,000 overall contribution limit per person per calendar year, and $ 5,000 limit for corporations. (politico.com)
You should also consider the IRA provider's account minimum, though most companies keep this reasonable considering the overall contribution limit of $ 5,500 per year. (nerdwallet.com)