Roth Ira Limits For 2024 Over Age 50

Roth Ira Limits For 2024 Over Age 50. For 2024, the maximum contribution limit for a roth ira is $7,000 for individuals under the age of 50. The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older.

The maximum amount you can contribute to a roth ira for 2024 is $7,000 (up from $6,500 in 2023) if you’re younger than age 50. Employers can contribute to employee roth 401(k)s through matching.