Age Limits for IRA Contributions

The IRA contribution age limit has changed over the years, allowing more flexibility for individuals saving for retirement. Traditional IRAs once had an upper age limit for contributions, but this restriction was removed with the SECURE Act of 2019, enabling individuals to continue contributing as long as they have earned income. While there has never been a Roth IRA age limit, income limits still apply. These changes allow retirees and late-career workers to keep adding to their retirement savings, provided they meet the income requirements.

If you have questions about retirement planning or need help managing your IRAs, consider working with a financial advisor.

Contribution Limits for IRAs

The 2025 contribution limit for both traditional and Roth IRAs is $7,000 (also $7,000 in 2024). Americans who are 50 or older can save an additional $1,000 in catch-up contributions. The IRS stipulates this so those nearing retirement can set aside a bit more.

However, there are other types of IRAs beyond the traditional and Roth varieties. For Simplified Employee Pension (SEP) plans, employers can contribute the lesser of 25% of an employee’s compensation to a SEP-IRA or $70,000 for 2025 (up from $69,000 in 2024).

For Savings Incentive Match Plan for Employees or SIMPLE IRAs, the 2025 contribution limit is $16,500 for employees under age 50 (up from $16,000 in 2024) and an additional $3,500 for employees ages 50 and older. However, the catch-up contribution limit for participants of certain SIMPLE plans can be even higher: $3,850.

Thanks to a change made in the SECURE 2.0 Act, employees between ages 60 and 63 can make an even greater catch-up contribution – up to $5,250 – to their SIMPLE IRA starting in 2025. Meanwhile, those participating in another employer plan during the year cannot contribute more than $23,500 cumulatively across all of their plans ($23,000 in 2024).

Roth IRA Income Limits

The ability to contribute directly to a Roth IRA is based on a person’s modified adjusted gross income (MAGI) from year to year.

In 2025, single filers and heads of household can make full contributions if their MAGI is below $150,000, with a phase-out up to $165,000. For married couples filing jointly, a full contribution is possible if their MAGI is less than $236,000, with a phase-out range between $236,000 and $246,000. Meanwhile, married individuals filing separately still face a phase-out between $0 and $10,000.

Age Limits for IRA Contributions

As mentioned above, there are also age limits for each of these accounts:

Traditional IRAs: Although previous laws stopped traditional IRA contributions at age 70 ½, you can now contribute at any age. However, required minimum distribution (RMD) rules still apply at 73 in 2024 and 2025. The RMD age rises to 75 in 2033.
Roth IRAs: Like their traditional counterpart, there is no age limit for Roth IRA contributions. So long as you or your spouse earns income, you can continue to make contributions indefinitely. There are no RMDs with Roth accounts. However, beneficiaries of inherited Roth IRAs may need to take RMDs to avoid penalties.
SEP IRAs: There is no age limit. Employers can contribute to your plan no matter how old you are. But you have to start taking RMDs at age 73 in 2025.
SIMPLE IRAs: There are no age limits with this type of IRA either. Additionally, employers must continue to make matching or non-elective contributions to your plan regardless of your age. However, you still need to take RMDs at age 73 in 2025.

Keep in mind that contribution and age limits do not apply to rollovers, conversions or transfers between retirement accounts. You can initiate these transactions no matter your age, and the amount will not count towards your annual contribution limit.

Other IRA Age Rules to Consider

You can begin contributing to traditional, Roth and SIMPLE IRAs at any age. Only SEP IRAs require participants to be at least 21 years of age. For each of these accounts, your contributions must not exceed the amount of taxable income you earn that year. There may be other eligibility terms, but your youth won’t hold you back from putting money away for your future.

When it comes to accessing your retirement funds, most plans only allow penalty-free IRA withdrawals when you reach age 59 ½ or face certain circumstances. This rule deters working Americans from tapping their nest egg prematurely. With a Roth IRA’s after-tax status, however, you can withdraw your original contributions at any time without paying a penalty. Withdrawing earnings before age 59 ½, on the other hand, would trigger the 10% penalty.

While you can contribute to an IRA at any age, most IRAs enforce required minimum distributions (RMDs) once you reach age 73 (75 if you were born in 1960 or later). This goes into effect whether you are still working or not.

The RMD directive ensures that you pay taxes on your savings after enjoying years of tax-deferred growth. As you may have guessed, Roth IRAs are the only accounts that do not require minimum distributions at any age. Since these accounts are funded with after-tax dollars, Uncle Sam will not benefit from your withdrawals. This, of course, assumes you meet the “qualifying” withdrawal rules the IRS has set.

Bottom Line

If you’re struggling to determine which IRA plan is right for you, their rules can help you decide. However, age limits are effectively eliminated from IRAs, so there’s no need to worry about them anymore. Choosing the right IRA, though, could depend more on what type of tax structure you need. A Roth IRA might be better than a traditional IRA for individuals to save on taxes at retirement when they expect to earn more later than they do now.

Tips for Retirement Planning

Choosing the right retirement savings vehicle isn’t always easy. In addition to the multiple IRA options, there are employer-sponsored plans and health savings accounts. Talking to a financial advisor can help you decide. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.
Don’t be afraid to make a change if you feel your first choice wasn’t right. The retirement plan you started a decade or two ago may not offer the benefits you need now. Luckily, converting your traditional IRA to a Roth IRA is fairly simple – especially if you plan on keeping the same brokerage firm.