But the contribution limit for IRAs has been inching up in recent years thanks to inflation adjustments. Now, on the heels of recent legislation, you can salt away an even higher amount as your career progresses, thanks to special rules for “catch-up contributions.” However, you can still contribute to a traditional IRA on a nondeductible basis up to the higher of your earned income and the contribution limit. Currently, you can catch-up contributions to your regular IRA contributions if you are age 50 or older. The catch-up contribution limit of $1,000, which is set statutorily, is also indexed for inflation under the latest rules.