2024 Ira Contribution Limits Income Limit Increase.  — the contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000. The ira catch up contribution limit for individuals aged 50 and over was changed to now include a cola under the secure 2.0 but remains $1,000 for 2024.

Some retirement plans have lower limits, so check the details of your allowable contributions.  — the total contributions you make to all your traditional iras and roth iras in 2024 can’t exceed the lesser of the following: