2022 IRA Contribution Limits

There are new IRA rules for the year 2022. The IRS has increased the annual retirement plan contribution limit to $20,500.00 for 2022 (plus an additional $6,500.00 catch-up if you’re over age 50). All of your brokerage accounts should be automatically updated for 2022 and the contribution limit has been updated to $20,500.00.

This means that you can put an extra $1,000 per year towards your retirement funds – so make sure to go and update your contributions so that you max out your retirement limits.

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