2024 Max Ira Contribution Over 55. As a couple, you can contribute a combined total of $14,000 (if you're both under 50) or $16,000 (if you're both 50 or older) to a traditional ira for 2024. Employees age 50 or older are eligible to contribute an additional $1,000, for a total of $8,000.

The simple ira contribution limit increased by $500 for 2024, and workers at small businesses can contribute up to $16,000 or $19,500 if 50 or over. 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.