The maximum 401(k) contribution is $23,000 in 2024 ($30,500 for those age 50 or older). But depending on your financial situation, putting that much into an employer-sponsored retirement account each year may not make sense. Rather, you...
the maximum amount that you can contribute to a 401(k) plan is $20,500, or $27,000 if you’re age 50 or older thanks to the $6,500 catch-up contribution.1For 2023, you can contribute up to $22,500 to a 401(k) plan, and up to $30,000 if you are age 50 or older since...
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...
Annual contribution limits:The IRS sets annual limits on the amount individuals can contribute to a 401(k). When you contribute to this limit, 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 fo...