Your IRA contribution limit is the maximum you can contribute across IRA plans. For 2026, the IRA contribution limit for investors under age 50 is $7,500. Investors age 50 and older are allowed to contribute $8,600. IRA contribution limits can change each year. Get to know the current maximum contribution limits for IRAs and take advantage of this retirement savings option.

Traditional IRAs allow you to contribute funds on a pre-tax basis. Contributions may be tax-deductible in the year you make them; investments inside the account can grow tax-deferred. You pay taxes when you withdraw from the account, and withdrawals made before age 59 ½ may be taxed and subject to a 10% penalty.

With a Roth IRA, your contributions are after tax. Investments inside the account can grow tax-free, and you don’t pay taxes on withdrawals made after age 59 1/2. Withdrawals of earnings before 59 1/2 may be subject to income tax and a 10% penalty.

If you have a traditional IRA, the IRS requires you to make required minimum distributions (RMDs) when you reach age 73. A Roth IRA has no RMDs.

There are important differences between a Roth and a traditional IRA. You may want to choose one over the other, or go with both. Taxes may affect your decision as well. Your Edward Jones advisor can help.

Converting a traditional IRA to a Roth IRA may provide tax benefits. A Roth IRA conversion occurs when you move funds from a traditional IRA to a Roth IRA. With a Roth conversion, you pay taxes now to convert your funds, but you gain access to tax-free growth potential and distributions in the future.

Find answers to commonly asked questions about traditional IRAs, Roth IRAs, rollovers and more, organized by topic.

Many times, you don't need to choose one over the other. There's value in exploring an IRA, even if you already contribute to a 401(k). Here's why.