Roth Ira Phase Out For 2024. You're allowed to invest $7,000 (or $8,000 if you're 50 or older) in 2024. The maximum amount you can contribute to a roth ira for 2024 is $7,000 (up from $6,500 in 2023) if you're younger than age 50.
Each year’s contribution amount to a roth ira. The combined annual contribution limit for roth and traditional iras for the 2024 tax year is $7,000, or $8,000 if you’re age 50 or older.