401(k) Contribution Limits in 2024 Before exploring how to max out your contributions, it’s helpful to understand how much you can contribute. In 2024, the 401(k) contribution limit is $23,000, which is up from $22,500 in 2023. Individuals aged 50 and over can contribute an additional...
Maximum employee elective contribution (age 49 and younger) $23,500, up from $23,000 in 2024 Maximum employee elective contribution (age 50 and older) Additional $7,500, remaining the same as in 2024 Maximum employee elective deferral plus catch-up contribution (age 50 or older) $31,000, ...
Keep in mind that the contribution limit is much lower — $7,000 in 2024 and 2025 ($8,000 if age 50 and older)— and Roth IRAs have income limits. When choosing between the traditional and Roth variety of an IRA or 401(k), the di...