2024 Ira Contribution Limits Income Limit Increase. For instance, you can contribute up to $23,000 to a 401 (k) by the last business day of 2024. 2024 ira contribution and income limits the contribution limit for traditional and roth iras will increase to $7,000 in 2024.

401(k) accounts have far bigger contribution limits. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.