News

Icon for www.fool.comThe Motley Fool · Sep 4, 2018

Using 401(k) Catch-Up Contributions to Increase Your Savings

Workers over 50 can make extra 401(k) contributions. Making the maximum catch-up increases retirement savings significantly by age 67. Contributions to a Roth 401(k) are taxed now, offering tax ...
U.S. News Money on MSN.com · 8d

How to Take Advantage of 401(k) Catch-Up Contributions

The 401 (k) contribution limit increased from $23,000 in 2024 to $23,500 in 2025. The catch-up contribution limit remained at $7,500 for 2024 and 2025. As of 2025, individuals ages 60 to 63 will be able to make even higher catch-up contributions in employer plans, equal to 150% of the catch-up contribution limit for individuals age 50 and older.
Icon for www.msn.comMSN · Feb 3, 2025

Over 50 and Starting Late? How to Catch Up on Retirement Savings Before It’s Too Late

However, once you are 50 or over, you become eligible for extra catch-up contributions. You can make an additional $7,500 catch-up contribution to your 401(k) after age 50 or if you are 60 ...
JD Supra · 6d

IRS Proposes Changes to 401(k) Catch-Up Contributions

Our Employee Benefits & Executive Compensation Group discusses what plan sponsors and fiduciaries need to know about the Internal Revenue
Icon for www.forbes.comForbes · Jun 11, 2024

Average 401(k) Balance By Age And How To Catch Up

In 2024, the maximum employee contribution to a 401(k) was $23,000. For those 50 and over there is an extra $7,500 allowable in order to “catch up.” Maximizing contributions and taking ...
Icon for money.usnews.comU.S. News & World Report · Feb 17, 2023

New Opportunities to Make 401(k) and IRA Catch-Up Contributions

The changes for 401(k) and IRA catch-up contributions ... “Historically, the IRA catch-up limit for those over 50 was a flat $1,000,” McCarthy says. “Now savers will need to keep track ...
Icon for www.fool.comThe Motley Fool · Feb 2, 2025

How Much Should You Contribute to Your 401(k)?

Gradually increase contributions up to the 401(k) contribution limit for additional savings. If you're over 50, utilize catch-up contributions to further enhance 401(k) savings and tax benefits.
AOL · 15d

3 Ways Super Catch-Up Contributions Can Help You Boost Your 401(k) and Retire Sooner

As you age, you have less time for your retirement investments to potentially grow, but you can also often contribute more to your retirement accounts. Normally, those who are 50 or over
Icon for www.kiplinger.comKiplinger · Mar 13, 2025

The Eight Key Milestone Ages in Retirement

SIMPLE plan catch-up amounts. The catch-up contribution limit for employees 50 and over who participate in SIMPLE 401(k) plans remains $3,500 for 2024. So the total you can contribute is $19,500 ...
Icon for www.kiplinger.comKiplinger · Jan 10, 2024

Roth 401(k) Contribution Limits for 2025

If you're 50 and older, the catch-up contribution limit is $7,500 ... However, you can avoid RMDs from a Roth 401(k) by rolling over the money into a Roth IRA, which doesn't require minimum ...
Icon for www.investopedia.comInvestopedia · Sep 11, 2015

Can I Fund a Roth IRA and Contribute to My Employer’s Retirement Plan?

For 2024, contribute up to $23,000 to a 401(k) and $7,000 to an IRA; catch-up amounts for those over 50 are $7,500 and $1,000, respectively. For 2025, contribute up to $23,500 to a 401(k ...
Icon for 247wallst.com24/7 Wall St · 8d

Did I Mess Up My Retirement Savings by Not Maxing Out My 401k for 15 Years?

In 2025, the IRS allows $24,500 annually for those under 50, plus $8,150 ... with a $1,000 catch-up for those 55+. These accounts grow tax-free, supplementing your 401(k). Over the next 15 ...
Icon for www.forbes.comForbes · Jun 11, 2024

Average 401(k) Balance By Age And How To Catch Up

In this article I’ll help answer some important questions about these investment vehicles and how to think about them over the course of a career. I’ve aggregated 401(k) data
Icon for wtop.comWTOP News · 8d

How to Take Advantage of 401(k) Catch-Up Contributions

If a worker over 50 pays a 35% tax rate and contributes ... While almost all 401(k) plans permit catch-up contributions, many older workers find it difficult to save $31,000 in a 401(k) plan.
Icon for finance.yahoo.comYahoo Finance · 8d

3 Ways Super Catch-Up Contributions Can Help You Boost Your 401(k) and Retire Sooner

As you age, you have less time for your retirement ... budget for over 12 years. Granted, taxes might reduce that, but investment gains might also increase it. Also, if the catch-up contribution ...