Contribution Limits

The Internal Revenue Service (IRS) sets limits on how much you can contribute to your IRA. The maximum amount an individual can contribute rises from $5,500 to $6,000 in 2019.

Those 50 years or older may contribute an additional $1,000 annually ($7,000 in 2019, up from $6,500 in 2018). While beneficial to all workers over age 50, these "catch-up contributions" are especially helpful to women, who may have failed to save adequately for retirement due to interruptions in their careers for child-rearing and family caregiving.