You Can Contribute More to Your 401(k) in 2024. Here's Why You May Not Want To.
In 2024, the 401(k) contribution limits have gone up. While last year you could contribute a maximum of $22,500 (plus an additional $7,500 catch-up contribution for those 50 or over), the 2024 limit is $23,000. The catch-up contribution remains the same as last year.
While you can contribute more to your 401(k) in the upcoming year, you may not actually want to make that choice. Here's why.
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Source Fool.com
