How to Crush Your 401(k) Goals in 2024
If you're looking to ramp up your retirement savings in 2024, an employer-sponsored retirement plan like a 401(k) might be your golden ticket.
Essentially, a 401(k) is a retirement savings plan that lets you funnel part of your paycheck into the account before taxes are taken out. For 2024, you can stash away up to $23,000 in your employer's 401(k) plan. If you are 50 or over, you can throw in an extra $7,500, bringing your total contribution limit to $30,500 for 2024. With these contribution limits, you could be on your way to a six-figure retirement account in a few years.
But if you're wondering how to supercharge your 401(k) this year to crush your long-term goals, we've jotted down a few steps you can take to make the process easier.
Source Fool.com
