how much can you contribute to an ira
Max out your IRA. You can contribute up to $5,500 to an IRA in 2014, which jumps to $6,500 if you are age 50 or older. To max out this type of account over the course of the year, you would need to contribute $458 per month, or $542 monthly if you are age 50 or older.ake advantage of 401(k) catch-up contributions. Workers age 50 and older can contribute an additional $5,500 to their 401(k) in 2014, or a total of $23,000. To save this much, you'll need to set your twice-a-month 401(k) contributions to $958 or contribute $1,917 per month.