401(k) and IRA 2024 Contribution Limits

Today, the Internal Revenue Service (IRS) announced that the amount individuals can contribute to their 401(k) plans in 2024 has increased to $23,000, up from $22,500 for 2023. Meanwhile, the limit on annual contributions to an IRA increased to $7,000, up from $6,500. The IRA catch‑up contribution limit for individuals aged 50 and over wasContinue reading “401(k) and IRA 2024 Contribution Limits”