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What are the 2013 Traditional and Roth IRA Contribution Limits?

Written by Nickel - 3 Comments

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With just a week to go before the New Year, I thought I’d put together a quick post on IRA contribution limits for 2013. As a reminder, contribution limits have been indexed to inflation since 2008, and can increase in $500 increments (as necessary).

As you can see from the table below, nothing had changed in the past few years, but… Limits are increasing by $500 in 2013.

Year Under Age 50 Age 50+
2002-2004 $3,000/year $3,500/year
2005 $4,000/year $4,500/year
2006 $4,000/year $5,000/year
2007 $4,000/year $5,000/year
2008 $5,000/year $6,000/year
2009 $5,000/year $6,000/year
2010 $5,000/year $6,000/year
2011 $5,000/year $6,000/year
2012 $5,000/year $6,000/year
2013 $5,500/year $6,500/year

A few notes…

First, note that this limit is a combined limit for traditional and Roth contributions. Thus, while you can contribute to both in the same year, the total contribution cannot exceed the $5,500 (or $6,500) limit.

Second, your traditional IRA contributions may be tax deductible, depending on whether or not you’re covered by a retirement plan at work, and how much money you make. Details can be found here.

Finally, remember that you can make contributions for 2012 all the way up to April 15th, 2013 (the due date for filing your 2012 tax return). Thus, if you still haven’t gotten around to it making your 2012 contributions, you still have time.

Published on December 24th, 2012 - 3 Comments
Filed under: Retirement,Saving & Investing,Taxes

About the author: is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!

Comments (scroll down to add your own):

  1. typo: u have 2012 twice

    Comment by Anonymous — Dec 24th 2012 @ 11:33 am
  2. j: Fixed it, thanks.

    Comment by Nickel — Dec 24th 2012 @ 8:11 pm
  3. Roth money is “after-tax”, so technically, you can save more using a Roth than a Traditional IRA: because the two types of accounts have the same limits.

    $5,500 max contribution to a Roth, assuming 25% marginal tax bracket, is equivalent to $7,333 in a Traditional account, which is way over the max contribution limit for the IRA.

    Comment by Anonymous — Jan 5th 2013 @ 8:49 pm

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