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The IRS places contribution limits on 401(k)s: For 2024, the contribution limit is $23,000, with an additional $7,500 allowed in catch-up contributions for workers who are age 50 or older.
Whether you choose a traditional or a Roth 401(k), however, the contribution limits are the same. ... Catch-up contributions for workers age 50 and older. $7,500. $7,500 +$0. Total contribution ...
How much should you contribute to your 401(k)? How much you should contribute to your 401(k) depends on your income, current expenses, expected long-term expenses, age and contribution limits.
The standard 401(k) contribution limits for 2025 are going up. Starting in 2025, ... Catch-up contribution for employees age 50 and older. $7,500. $7,500. Data source: IRS. Chart by author.
A 401(k) is a retirement account offered by employers that also offers tax benefits. Find out the maximum you can contribute to your 401(k) in 2024. 401(k) Contribution Limits 2024
Contribution limits to 401(k) plans in 2024 have increased to $23,000, up from $22,500 for 2023. Catch-up contributions for those age 50 and older will remain unchanged at $7,500.