IRA Limits – IRA Contribution Limits 2020

Personal Maximum Contribution limit is:
2020: $6000 ($7000 if age >= 50 years)

Personal Maximum Contribution limit is:
2020: $6000 ($7000 if age >= 50 years)

Employer Sponsored
401K Maximum Contribution Limit:$19,500 ($26,000 if age >= 50 years)

* 2020: $6000 ($7000 if age >= 50 years)
* 2019: $6000 ($7000 if age >= 50 years)

* 2018: $5,500 ($6500 if age >= 50 years)
* 2017: $5,500 ($6500 if age >= 50 years)

You can contribute to both a Roth IRA and a traditional IRA, but the combined annual limit is still same as above.