Roth Ira 2024 Contribution Limit. Should i contribute to a roth ira or 401(k) in 2024? For 2024, the roth ira contribution limits are going up $500.

The limit for annual contributions to roth and traditional individual retirement accounts (iras) for the 2023 tax year was $6,500 or $7,500 if you were age 50 or older. The income limit for contributing to a roth ira in 2024 kicks in once an individual’s modified adjusted gross income hits $161,000, or $240,000 for married filing.