Ira Contribution Limits 2024 Over 55. The 2024 annual ira contribution limit is $7,000 for individuals under 50, or $8,000 for 50 or older. If you're age 50 or older, you're eligible for extra contributions as well.
For 2024, the annual contribution limit for simple iras is $16,000, up from $15,500 in 2023. For 2024, you can contribute as much as $7,000 to an ira or $8,000 if you’re age 50 and older.