IRS Announces New IRA Contribution Limits—Would You Be Ready for Retirement Saving That Much Annually?

In 2026, you can contribute up to $7,500 to your IRA, according to the Internal Revenue Service (IRS). (If you're 50 or older, you can contribute $1,100 more as a catch-up contribution.) So we wondered: If you contributed $625 per month just to your IRA, would you have enough money to retire in the future? Well, let's run the numbers. Let's assume you start saving for retirement at age 27 and you plan to retire at age 67. While IRA contribution limits typically increase every year to keep pace with inflatio ...