Retirement Account Contribution Limits 2024 401k. Investors can currently only contribute up to $7,000 annually to an ira account. For 2024, the 401(k) limit for employee salary deferrals is $23,000, which is above the 2023 401(k) limit of $22,500.
Those 50 and older can contribute an additional $7,500. The two main disadvantages of ira investing are contribution limits and access restrictions.