2024 Ira Catch Up Contribution Limits Over 50

2024 Ira Catch Up Contribution Limits Over 50. A type of retirement savings contribution that allows people over 50 to make additional contributions to their 401 (k) and/or individual. You can contribute a maximum of $7,000 (up from $6,500 for 2023).

The combined annual contribution limit in 2024 for a traditional and roth ira is $7,000 for those younger than age 50 and $8,000 for those 50 and older (since the latter are. 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.