How much can I contribute to my IRA?

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.