Learn how catch-up contributions let those 50+ boost their retirement savings in 401(k)s and IRAs, understanding rules, limits, and tax benefits involved.

Recent years show how this works. The standard 401 (k) deferral limit increased to $23,000 for 2024. The catch-up limit for ...

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-free ...

The youngest of baby boomers — and some older Gen Xers — could end up even more confused about how much money they can sock away in their 401(k) plans in 2025. Could someone in those age groups really ...

The IRS recently released the updated 401(k) contribution limits for 2025. While the increase for employees under the age of 50 is modest, there's an expanded catch-up contribution limit for those ...

Once you turn 50, you become eligible to contribute additional money to your 401(k) plan. This can help you save more for retirement and prepare for the years ahead. The tax deduction of these ...

(NewsNation) — Employees in their early 60s can contribute several thousand dollars more to their 401(k) retirement plan starting next year thanks to a recent change in tax law. People 50 and older ...

Catch-up contributions are usually worth it, in the sense that it's always a good idea to boost your retirement savings. If you can increase your savings, it's generally wise to do so. The question ...