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Employer or Individual Employer or sole proprietor sets up this plan. Individual sets up this plan. Contribution Limits Employee contribution limit of $23,500/yr for under 50; $31,000/yr for age 50 or above in 2025; limits are a total of pre-tax Traditional 401(k) and Roth 401(k) contributions. [4]
“Continue contributing to a Roth or traditional IRA, but remember the contribution limits are relatively low compared to a 401(k),” Meyer said. (The maximum contribution is $7,000 for 2024).
Both IRAs and 401(k) plans offer a way to save on taxes while saving for retirement. But choosing between each account requires learning a bit more about how each account functions--and how they ...
But with around $700,000 in a personal IRA, the question this user has posed to the Reddit community is whether to port the $700,000 over to a Traditional 401(k) now or wait the 15 months until ...
A Redditor has done their research and is considering moving funds from a 401(k) account to a Roth IRA. This individual has a gross salary of $84k and recently paid $20k in taxes bill.
With an IRA, you have a vast array of options for what to invest your money in, including individual stocks. By contrast, the investment choices in most 401(k) plans are often limited to mutual funds.
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