TaxWatch: You can save up to $23,000 in your 401(k) next year, the IRS says

by | Nov 1, 2023 | Stock Market

Retirement savers can tuck away slightly more in 2024 but the contribution increases are more modest than 2023’s increases, according to new inflation-related adjustments released by the IRS. People who are building up their 401(k) accounts can contribute up to $23,000, a more than 2% increase from the $22,500 maximum for this year.IRA contribution limits climb to $7,000 from $6,500 for 2024. That’s a 7.6% year over year increase. When…

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