Last issue - retirement career.
9. Contribute more to retirement?
If you feel a little behind in your retirement savings, once you turn 50 you’re eligible to make a “catch-up contribution” of $5,500 to your 401(k) plan. That’s over and above the $17,500 that the IRS allows anyone younger than 50 to contribute to a 401(k) now.
You also get to play catch-up with your IRA too - you can contribute an extra $1,000, for a total of $6,500.
Next issue - never too late to save for retirement.
9. Contribute more to retirement?
If you feel a little behind in your retirement savings, once you turn 50 you’re eligible to make a “catch-up contribution” of $5,500 to your 401(k) plan. That’s over and above the $17,500 that the IRS allows anyone younger than 50 to contribute to a 401(k) now.
You also get to play catch-up with your IRA too - you can contribute an extra $1,000, for a total of $6,500.
Next issue - never too late to save for retirement.
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