How much should you be contributing to your 401(k) in 2024

As we enter the new year, many 401(k) plan savers are wondering how much they should contribute to their retirement plan in 2024. Although the answer depends on individual circumstances, there are specific steps that can be taken to optimize contributions and maximize retirement savings. First and foremost, it’s important to be aware of the 2024 contribution limits set by law. The cap on employee elective deferrals for 401(k) plans is $23,000, with an additional …

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