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Adults under 50 can set aside up to $23,500 in a 401(k) in 2025, while those 50 to 59 and 64 or older can save up to $31,000. Those aged 60 to 63 can contribute the most at $34,750 this year.
Mutual fund giant and retirement plan administrator Vanguard says that in 2023, its corporate clients' average contribution to workers' retirement accounts was 4.6% of their pay. Still, money's money.
If you want to get the most out of your 401(k) account, you obviously need to contribute money of your own. Your 401(k) lets you choose between a variety of funds your employer has pre-selected.
That means I don't have access to a 401(k) -- though freelancers can set up a Solo 401(k). So I rolled my old 401(k) into my IRA, which lets me buy the investments I want but doesn't charge the ...
A 401(k) can be a great way to save for retirement, but a few wrong decisions can derail your progress. Fortunately, it only takes a little planning to avoid the biggest 401(k) mistakes.
If you've ever forgotten to roll over your old 401(k) to your new employer, you're not alone. A study found that as of May of 2021, a whopping $1.35 trillion in assets were "forgotten" in old 401 ...