The IRA contribution limit rose to $7,500 for 2026, up from $7,000 the year before. That number is a combined cap — it covers everything you put into Traditional and Roth IRAs together across all your accounts, not $7,500 for each type separately. * If you're 50 or older, you get a catch-up contribution too: an extra $1,100 for 2026, bringing your total possible contribution to $8,600. * Roth IRAs come with an income ceiling that Traditional IRAs don't. For 2026, the ability to contribute directly to a Roth phases out between $153,000 and $168,000 in income for single filers and heads of household, and between $242,000 and $252,000 for married couples filing jointly. Earn above the top of that range, and you can't contribute to a Roth IRA directly at all — though a backdoor conversion is still an option for many people. * Traditional IRAs don't have an income limit on who can contribute, but they do limit who can deduct those contributions on their taxes. If you or your spouse are covered by a retirement plan at work, like a 401(k), your ability to deduct Traditional IRA contributions phases out at certain income levels — meaning you can still contribute, you just might not get the upfront tax break for doing it.