2024 Ira Limits Catch Up. The contribution limits for a traditional or roth ira increased last year for the first time in four years, and the limits are going up again. People under age 50 can generally contribute up to $7,000 per year to their roth iras.
Plus, find out whether you’ll be able to deduct these from your taxes this year. For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023.