Annual IRA limits may seem small to you, but combined with the tax breaks and compounding, your investment can add up significantly over time.
IRA contribution limits for 2016
The figures below are the amounts you can contribute, in total, across all of your Roth and traditional IRAs, including those you hold at all companies.
If you're under age 50:
If you're age 50 or older:
Note: You can never contribute more than you've earned for the year.