ira

2 questions

What are the IRA contribution limits?

In 2026, you can contribute up to $7,500 per year to an IRA if you're under 50, or $8,600 if you're 50 or older. This limit is shared across all your IRAs — you cannot contribute $7,500 to a Roth and another $7,500 to a traditional IRA in the same year.
When can I withdraw from my IRA without penalty?

You can withdraw from any IRA without the 10% early withdrawal penalty at age 59½. For a Roth IRA, earnings also need to have been in the account for at least 5 years (the '5-year rule') to be tax-free. Roth IRA contributions — but not earnings — can be withdrawn at any age with no tax or penalty.