IRA Contribution

Choosing the right retirement account can be complicated—but it doesn't necessarily have to be. Our IRA Contribution Calculator will take you through what you need to know to make an informed decision. Input your information below and see how much you can contribute to a Traditional, Roth, and SEP IRA account this year.

By using our Traditional, SEP, and Roth IRA Contribution Calculator above you can learn more about how much you can contribute this year to each retirement account.

Traditional IRA?

A traditional IRA (individual retirement account) is a retirement account that you can open and fund yourself. This account is not through an employer. Contribution limits for 2021 are: $6,000 or $7,000 if you are 50 years or older. Income limitations apply.

Roth IRA

A Roth IRA is also a retirement account that you open and fund yourself not through an employer. However, this account is different from a traditional IRA because you contribute after-tax money to it, so in retirement you can withdraw your money tax-free. Contribution limits for 2021: $6,000, or $7,000 if you are over 50 years old. Income limitations apply.


A SEP IRA (Simplified Employee Pension) is a retirement account for small business owners or self-employed people. Contribution limits for 2021: Whichever is lower of $56,000 or 25% of compensation per employee. Other limitations may apply.


More Resources

SoFi Invest Market Commentary

Our Investing Approach

We use both automatic investing and insight from seasoned investors for SoFi Invest. Why does that matter? Glad you asked.

SoFi Blog

Articles You Might Like

Investing advice, saving strategies, and smarter ways to manage your finances—find it all on the SoFi blog.

SoFi Blog

Words to Know

What’s the difference between bonds and stocks? If want to brush up on your investing lingo, check out our glossary.

TLS 1.2 Encrypted
Equal Housing Lender