What is the maximum yearly contribution amount for a standard Roth IRA?

The maximum yearly contribution amount for a standard Roth IRA is $6,000 for individuals under the age of 50. This limit is set by the IRS and is designed to encourage retirement savings through tax-advantaged accounts. For individuals aged 50 and older, they are allowed an additional catch-up contribution, which increases their limit to $7,000. This structure helps individuals build a sufficient retirement nest egg while enjoying tax-free growth on their investments, as qualified withdrawals from a Roth IRA are tax-free.

The other amounts listed, such as $3,000, $12,000, and $18,000, do not reflect the current established limits for Roth IRA contributions. These figures may refer to limits for different types of accounts or retirement plans or may represent past limits. Therefore, the correct answer of $6,000 aligns with the current guidelines set forth by the IRS for Roth IRA contributions.