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Assuming your income is under the IRS income threshold, you could make contributions to a Roth IRA. For 2024 and 2025, the annual maximum IRA contribution is $8,000—which includes a $1,000 catch-up contribution—if you're 50 or older. Under the SECURE Act 2.0, future catch-up contribution amounts will be indexed to inflation.

Learn how much you can contribute to an IRA in 2024 and 2025, and how your income and age affect your deduction and catch-up options. Find out the differences between traditional and Roth IRAs, and how to save more for retirement with workplace plans.

Catch-up Contribution for 2025. Total 2025 Annual Contribution Limit. 50-59 OR 64 or older. $23,500. ... and IRA Contribution Limits Set for 2025; Get Kiplinger Today newsletter — free.

The age 50 catch-up contribution limit for participants in 457(b) plans remains at $7,500 for the 2025 tax year. SECURE 2.0 added an additional catch-up contribution to those 60 to 63 of $3,750. Individual Retirement Accounts (IRA) IRA contributions: 2025: Remains at $7,000;

What are the IRA limits in 2025? The limit on annual contributions to an IRA remains $7,000. The IRA catch‑up contribution limit for individuals aged 50 also stayed at $1,000 for 2025, after a ...

IRAs—Traditional and Roth. For tax years 2024 and 2025, you can make a $1,000 catch-up contribution—in addition to the $7,000 annual contribution limit—if you're age 50 or older, for a maximum of $8,000.N ote that you can't contribute more than you earn in any given year. If you're married and have no income, you may be able to open a spousal IRA to save for retirement.

Here are the 2025 catch-up contribution limits for some common retirement savings accounts: In 2025, you can make a catch-up contribution of up to $7,500 to your 401(k) if you are 50-59 years old or if you are older than 63 years old. If you are 60, 61, 62, or 63 years old, your catch-up contribution limit is higher: $11,250. ... IRA catch-up ...

Traditional and Roth IRA Contribution Limits for 2025. For the year 2025, the maximum contribution limits for both Traditional and Roth IRAs are as follows: Under Age 50: You can contribute up to $7,000. Age 50 and Over: You are eligible for an additional "catch-up" contribution of $1,000, bringing your total allowable contribution to $8,000.

That catch-up is either $3,850 or $3,500 for 2025. It’s $3,850 for plans with 25 fewer employees or plans with more than 25 employees where the company has agreed to make a larger-than-normal employer contribution. (That’s because of a 10% bump-up to the SIMPLE IRA contributions that became effective in 2024.) The 2025 age 50-or-older catch ...

Starting in 2025, the SECURE 2.0 Act of 2022 also introduced new catch-up limits for individuals age 60-63 who participate in SIMPLE IRA and SE401(k)s. If your plan allows, you may be able to contribute up to 150% of the catch-up limit: For a SIMPLE IRA, the annual catch-up contribution limit is $5,250, increasing the total contribution ...

Roth, Traditional and SEP IRA contribution limits for 2025 and 2024 — age 50 and over; Header Cell - Column 0 . ... SIMPLE employee age 50+ catch up. n/a. $3,500 . SIMPLE employee age 50-59 and ...

For 2025, the contribution limit for Traditional and Roth IRAs is $7,000, with a $1,000 catch-up contribution if you’re 50 or older. There are income limits for Roth IRA contributions and Traditional IRA tax deductions. Maxing out your contributions can give your retirement savings a huge boost.

Adding even more complexity to the mix, starting in 2025 SIMPLE IRA participants turning 60, 61, 62 or 63 by the end of a calendar year can make an even higher catch-up contribution for that year. This “super catch-up” is $5,250 (150% of $3,500 – the 2025 regular catch-up limit.)

Beginning in 2025, the SECURE 2.0 law increases the catch-up contribution limits for certain ages. Those who are age 60, 61, 62, or 63 will soon be able to set aside more money in a 401(k) plan.

The 2025 IRA contribution limit remains $7,000, the same as in 2024. Savers over 50 may contribute an additional $1,000, also the same as in 2024. Roth IRA income thresholds will increase in 2025 ...

The new catch-up contribution limit will increase to the greater of $5,000 or 150% of the regular age 50 catch-up contribution limit for SIMPLE IRA plans in 2025. Those who are 60, 61, 62, or 63 ...

For those with employer-sponsored retirement accounts, such as 401(k), 403(b), and 457 plans, the standard contribution limit for 2025 is $23,500. Catch-up contribution for those 50 and older: $7,500. New catch-up contribution for those 60-63: $11,250. This means individuals aged 60 to 63 can contribute a total of $34,750 in 2025. IRA ...

The standard 401(k) limit for 2025 is $23,500, with a regular catch-up for those 50 and older of $7,500, meaning the "super catch-up" represents an additional $3,750 for qualifying participants. Once a participant turns 64, they revert to the age 50 and older (or +) catch-up contribution limit in effect for that year.

The 2025 limit on IRA contributions is $7,000. The IRA catch-up contribution limit for those age 50 or older is $1,000. You can claim a deduction for a traditional IRA if you meet certain conditions. If you or your spouse are covered by a retirement plan at work, the deduction may be phased out...