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Home > Blog > IRA & Solo 401(k) Contribution Limits

IRA & Solo 401(k) Contribution Limits

As of 2022, people 50 and under can contribute $6,000 in an IRA. The amount individuals over 50 can contribute is $7,000. For SEP IRAs the limit is $61,000.
For Solo 401(k)s the limit is $61,000 (under 50) and $67,500 (over 50). Whether you're permitted to contribute the maximum, though, will be determined by your self-employment income. Follow this link to our Solo 401(k) Contribution Calculator.
Here's a snapshot of the contribution limits:

Retirement Plan Contribution 2021: Under Contribution 2022: Under Contribution 2021: 50 and Over Contribution 2022: 50 and Over
IRA: Traditional and Roth $6,000 $6,000 $7,000 $7,000
Solo 401(k) $58,000 $61,000 $64,500 $67,500
SEP IRA $58,000 $61,000 58,000 $61,000

If you have additional questions, our experts are available at 1-800-395-5200.


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