How much can I contribute to my Roth IRA?
There are limits on the amount of income one can make during a given year—and the limits change from year to year. As of 2021, you may contribute up to $6,000 each year. If you are age 50 or older this raises to $7,000. You are never too young to start saving for retirement as long as you have an income.
Please visit the IRS website for details.
This answer has been viewed 116518 times.
Related Questions
- What is an IRA?
- Will I earn dividends on my money if I put it into a Roth IRA?
- Can I have both a Traditional and a Roth IRA?
- Will my Roth IRA affect the amount that I can contribute to my employer-sponsored retirement plan?
- Who can contribute to a Roth IRA?