Ira Contribution Limits 2024 Over 50 Years. Beginning in 2024, the ira contribution limit is increased to $7,000 ($8,000 for individuals age 50 or older) from $6,500 ($7,500 for individuals age 50 or older). $7,000 ($8,000 if you're age 50 or older), or;

With the passage of secure 2.0 act, effective 1/1/2024 you may also be eligible to contribute to your roth ira using 529 rollover assets. At certain incomes, the contribution amount is lowered until it is eliminated completely.