For 2024, you can contribute a maximum of $23,000 to your 401(k) (up from $22,500 for 2023). You can add another $7,500 in catch-up contributions if you're 50 or older (unchanged from 2023). If your employer offers a matching contribution, different limits exist for how much an...
Keep in mind that the contribution limit is much lower — $7,000 in 2024 ($8,000 if age 50 or older)— and Roth IRAs have income limits. That said, if you have spare money after maxing out your IRA accounts, funnel it back into ...
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, ...
you have “maxed out” your 401(k). For 2023, the maximum contribution limit is $22,500, with an additional catch-up contribution of $7,500 for those aged 50 and older.