how much can you contribute to a roth ira per year
Contribution Limits. The Roth IRA has a maximum amount that you can contribute on an annual basis. The Internal Revenue Service sets the limit by which retirement savers must abide. If you are currently under the age of 50, you can contribute a maximum of $5,000 per year, as of 2010.Once you reach the age of 50, you can set aside an extra $1,000 per year, which brings your total up to $6,000 annually.The government regularly increases this limit every few years to account for inflation.f you are currently under the age of 50, you can contribute a maximum of $5,000 per year, as of 2010. Once you reach the age of 50, you can set aside an extra $1,000 per year, which brings your total up to $6,000 annually. The government regularly increases this limit every few years to account for inflation.