Want to Increase Your 401(k) Contribution for 2024? Here's Why You Need to Act Now

Maxing out a 401(k) plan is a pretty tall order. Currently, 401(k)s max out at $23,000 for workers under 50, while those 50 and over get a $7,500 catch-up option that brings their total allowable contribution for 2024 to $30,500.In 2025, these limits are rising by $500. Or, more accurately, the contribution limit for workers under 50 is increasing by $500, while the $7,500 catch-up contribution is staying the same.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool