Speak with a Broad specialist:
(800) 395-5200Schedule a CallOpen an Account
Speak with a Broad specialist:
(800) 395-5200Schedule a CallOpen an Account
Home > Blog > IRA & Solo 401(k) Contribution Limits

IRA & Solo 401(k) Contribution Limits

As of 2023, people 50 and under can contribute $6,500 in an IRA. The amount individuals over 50 can contribute is $7,500. For SEP IRAs the limit is $66,000.
For Solo 401(k)s the limit is $66,000 (under 50) and $73,500 (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 2023: Under 50 Contribution 2022: Under 50 Contribution 2023: 50 and Over Contribution 2022: 50 and Over
IRA: Traditional and Roth $6,500 $6,000 $7,500 $7,000
Solo 401(k) $66,000 $61,000 $73,500 $67,500
SEP IRA $66,000 $61,000 $66,000 $61,000

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

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