IRA Contribution Limits Are Rising in 2023. Here's How to Make the Most of It
In 2022, you're only able to contribute $6,000 to an IRA or $7,000 if you're 50 or older. If they max out an IRA in each person's name, they can contribute up to $13,000 (or $15,000 if both people are 50 or older) in total.