The Roth IRA is an individual retirement account that allows you to invest after-tax income, up to a specified amount each year. The Roth IRA is a secure way to save for retirement as your savings grow tax-free.
Traditional/Roth Contribution Limits
Year
|
Standard Contribution |
Catch-Up Contribution (for ages 50 or older) |
---|---|---|
2020 |
$6,000 |
$1,000 |
2021 |
$6,000 |
$1,000 |
2022 and on |
Indexed with Inflation |