Ira Limits 2024 Contribution Rate. This is an increase from 2023, when the limits were $6,500 and $7,500, respectively. The 2024 401(k) contribution limit is $500 higher than this year’s $22,500 max, which reflected a major increase from the 2022.

The maximum amount you can contribute to a roth ira for 2024 is $7,000 (up from $6,500 in 2023) if you’re younger than age 50. Check out the new ira contribution limits and roth ira income limits below, and see just how much more you can save for retirement in 2024 with your iras.