IRA contribution limits

For 2024, the maximum contribution to all your Roth and Traditional IRAs for individuals under 50 years old is $7,000. For individuals 50 and over, the maximum contribution is $8,000.

For 2023, the maximum contribution to all your Roth and Traditional IRAs for individuals under 50 years old is $6,500. For individuals 50 and over, the maximum contribution is $7,500.

Certain individuals may not be eligible to contribute directly to a Roth IRA due to their filing status or earned income. For questions about IRS income limits and your Roth IRA contribution eligibility, please consult a qualified tax professional.

M1 and its affiliates do not provide tax, legal, or accounting advice. This material has been prepared for informational purposes only. It is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Please look at your account statement to determine how your account is cleared.

All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using margin can add to these risks. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary.

Brokerage products and services are offered by M1 Finance LLC, Member FINRA / SIPC, and a wholly owned subsidiary of M1 Holdings, Inc.

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