Each year the IRS updates the amount of money individuals may save for retirement into 401(k) and IRA plans. Learn how much you can save this year This Year's Contribution Limits Maximum employee elective contribution (age 49 and younger) $23,500, up from $23,000 in 2024 Maximum employee...
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...