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If you meet these requirements, you may contribute up to the maximum Roth IRA contribution limit. For 2018, that limit is $5,500 if you’re younger than age 50. But if you’re better than 50 ...
This limit applies to the total annual contributions to both Roth IRAs and traditional IRAs. For example, a person aged 45, who put $4,000 into a traditional IRA this year so far, can either put $2,000 more into this traditional IRA, or $2,000 in a Roth IRA, or some combination of those.
For example, a contribution of the 2008 limit of $5,000 to a Roth IRA would have been equivalent to a traditional IRA contribution of $6667 (assuming a 25% tax rate at both contribution and withdrawal). In 2008, one could not contribute $6667 to a traditional IRA due to the contribution limit, so the post-tax Roth contribution may be larger.
Contribution limit. A Roth IRA has a relatively low contribution limit compared to employer-sponsored 401(k)s. The maximum you can contribute is $7,000 — or $8,000, if you’re 50 or older.
The Roth IRA is also a great rollover option if you have a Roth 401(k) as a retirement account. You can roll the money from the employer-sponsored account to a Roth IRA held in a brokerage account ...
“Continue contributing to a Roth or traditional IRA, but remember the contribution limits are relatively low compared to a 401(k),” Meyer said. (The maximum contribution is $7,000 for 2024).