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Catch-up Contributions for Your Retirement Plan [Video]

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Personal Finance

Catch-up Contributions for Your Retirement Plan

Key Points – Catch-up Contributions for Your Retirement Plan

  • The Power of Catch-up Contributions
  • Maxing Out 401(k) Contributions
  • Maxing Out IRA Contributions
  • A SECURE Act 2.0 Provision That Will Impact Retirement Plan Contributions Starting in 2026
  • 4-Minute Read | 23-Minute Watch

The Power of Catch-up Contributions

How much are you contributing to your workplace retirement plan each year?The maximum contribution that you can make in 2024 is $23,000 if you’re 49 or younger. However, if you’re 50 or older, you have an opportunity to contribute an additional $7,500 in 2024 via a catch-up contribution.

If you feel like you’re behind the 8 ball with saving for retirement, catch-up contributions offer a potential solution to accelerate your savings. We’re going to illustrate the difference that annual catch-up contributions can make for your retirement plan.

Schedule a Meeting Get the Retirement Plan Checklist

Maxing Out 401(k) Contributions

For this case study, we aim to illustrate how much you potential savingsyou could create by …

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