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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.
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.
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.
The 401(k) has been around for 46 years, and in that time, it has become the dominant workplace retirement plan employees of all ages use to save for their futures. Each generation has made its ...
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.
Some investors will be able to save even more in their 401(k) starting Jan. 1. This Big 401(k) Change Coming in 2025 Could Supercharge Your Savings. Here's Who Can Benefit.