401k Contribution Limits 2024 Roth. With annual contribution limits as high as $23,000 for people under age 50 or $30,500 for those age 50 and up, you might even be able to become a millionaire by retirement from your 401(k) alone. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.

The contribution limit for simple 401 (k)s is $16,000 (up to $19,500 if you’re 50 or older). If you’re age 50 or older, you can make an.