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e42840
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I like to contribute maximum amount, but I don't know the limit of contribution. I am 63 years old an my wife is 56 years old. Also how to figure out where to contribute

 
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I like to contribute maximum amount, but I don't know the limit of contribution. I am 63 years old an my wife is 56 years old. Also how to figure out where to contribute

The most you can contribute to all of your traditional and Roth IRAs is the smaller of:

For 2019, $6,000, or $7,000 if you’re age 50 or older by the end of the year; or
your taxable compensation for the year.

(Taxable compensation is generally wages that you worked for - W-2 or net self-employed income minus the deducible part of the SE tax, but can include commissions, certain alimony and separate maintenance, and nontaxable combat pay ).

See IRS Pub 590A "What is compensation" for details:
https://www.irs.gov/publications/p590a#en_US_2018_publink1000230355

See this IRS article for Roth contribution limits:

https://www.irs.gov/retirement-plans/roth-iras

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