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Average 401(k) balance by age. ... you should target about $240,000 in savings by age 40 and $480,000 by age 50. ... 401(k) limit increases to $23,500 for 2025, ...
401(k) plan limits. 2024. 2025. Change. Maximum salary deferral for workers. $23,000. $23,500 +$500. Catch-up contributions for workers age 50 and older. $7,500
401(k) plan limits. 2025. 2024. Maximum elective deferral for most employees age 50 and older (including catch-up contributions) $31,000. $30,500. Maximum elective deferral for employees 60, 61 ...
That's a $500 bump from the $23,000 elective deferral limit for 401(k) plan employee contributions in 2024. ... Catch-up contribution for employees age 50 and older. $7,500. $7,500. Data source ...
The new 401(k) contribution limits for 2025. If you're aiming to become a retirement millionaire, the 401(k) can help. ... Catch-up contribution for employees age 50 and older. $7,500. $7,500.
Average and median 401(k) balance by age. ... The 2024 contribution limit is $23,000. Those aged 50 and older can add another $7,500 to that amount, for a total of $30,500.
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