IRA and 401(k) Contribution Limits Won't Rise in 2021. Here's What to Do With Your Extra Money
Many people struggle to max out an IRA or 401(k) year after year. But what if you have the opposite problem? What if you routinely max out your retirement plan contributions and find yourself with more cash to spare?
You may encounter this scenario in 2021 if your earnings are getting a boost. That's because IRA and 401(k) limits aren't increasing next year. They'll hold steady at $6,000 and $19,500, respectively, for workers under 50, and $7,000 and $26,000 for those 50 and over.
Don't despair -- you still have options for socking funds away for the future. Here are two to look at.
Source Fool.com
