Maxing Out Your 401(k) Could Earn You This Much Money Over Your Career
A 401(k) can be a valuable resource in your retirement savings strategy. If you consistently take maximum advantage of its benefits, you should enter your golden years quite well off. In 2021, people whose employers offer such accounts can contribute as much as $19,500 to them.
The government has gradually increased the annual 401(k) contribution limit over the years, and it's likely that it will continue to do so. But if it stays the same, this is how much you could accumulate over time by maxing out your contributions, assuming the max individual contribution in 2021 of $19,500, to this tax-advantaged retirement account.
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Source Fool.com
