How much extra can I put in an IRA once I turn 50?

The IRS allows a catch-up contribution on top of the standard IRA limit for anyone age 50 or older by year-end. This applies to both Traditional and Roth IRAs and is meant to help people accelerate savings as retirement nears. The catch-up amount for IRAs has historically been a flat figure, and SECURE 2.0 directs the IRS to index it for inflation going forward, so it may rise in small increments. It's separate from, and larger than, the workplace-plan dynamics you may have heard about. A married couple both over 50 can each use the catch-up, meaningfully boosting household savings. Check the current-year catch-up figure at irs.gov, since it can change annually.