Only contributed $5k to my 401(k) this year - can I put 75% of my paycheck toward it now?
Briefly

from 24/7 Wall St.1 month ago
The 401(k) program has provided retirement savings opportunities for over 71 million workers, with $8 trillion accumulated in these plans, emphasizing the significance of this financial tool.
24/7 Wall St.https://247wallst.com/personal-finance/2024/12/21/only-contributed-5k-to-my-401k-this-year-can-i-put-75-of-my-paycheck-toward-it-now/
Many employees miss out on employer match programs for their 401(k), which is essentially free money from their job that can significantly enhance their savings.
24/7 Wall St.https://247wallst.com/personal-finance/2024/12/21/only-contributed-5k-to-my-401k-this-year-can-i-put-75-of-my-paycheck-toward-it-now/
While employees can supercharge contributions towards the end of the year if they haven't maxed out, careful consideration is necessary to ensure it aligns with their retirement goals.
24/7 Wall St.https://247wallst.com/personal-finance/2024/12/21/only-contributed-5k-to-my-401k-this-year-can-i-put-75-of-my-paycheck-toward-it-now/
The ability to contribute up to $23,500 in 2024 enhances the potential for retirement savings, but employees should be cautious about their long-term financial strategy.
24/7 Wall St.https://247wallst.com/personal-finance/2024/12/21/only-contributed-5k-to-my-401k-this-year-can-i-put-75-of-my-paycheck-toward-it-now/
Read at 24/7 Wall St.
#401k #retirement-savings #employee-contributions #employer-matches #financial-planning
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