How much can I contribute to a Traditional or Roth IRA?

You may annually contribute up to the lesser of

  • 100 percent of earned income, or
  • the statutory limit for the year ($6,000 in 2021)

The annual contribution limit is subject to cost-of-living-adjustments (COLAs).

In addition, if you are age 50 or older, an additional amount (called a catch-up contribution) may be contributed to your IRA. Your catch-up contribution can be up to $1,000 annually.

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