Looking to save up for your golden years by contributing to an IRA account? Are you not sure about how much you can contribute? Check out the table below.


Traditional & Roth IRA Contribution Limits

Tax Year

Standard Limit

Contribution Limit age 50+
(+$1,000 "Catch-Up" contributions)

2021

$6,000

$7,000
2020

$6,000

$7,000

2019

$6,000

$7,000

Source: IRS


SEP IRA Contribution Limits

2021 Contributions to a SEP IRA each year cannot exceed the lesser of:

  1. 25% of compensation, or

  2. $58,000

2020 Contributions to a SEP IRA each year cannot exceed the lesser of:

  1. 25% of compensation, or

  2. $57,000

Source: IRS


To learn more about contribution deadlines, then click here.

To learn more about the potential tax benefit of a Traditional or Roth IRA, please click here.

Lastly, wondering how much you've already contributed? Click here.