Essential Moves if Maxing Out Your 401(k) Isn’t an Option in 2024!
Retirement planning is a major player in financial stability, especially for retirees. While 401(k) plans offer generous annual contribution limits, maximizing these contributions is only sometimes feasible for some. In 2024, the median weekly wage in the U.S. was approximately $1,118, translating to around $58,000 annually for an entire year’s work. With 401(k) contribution limits set at $22,500 for those younger than 50 and $30,000 for those over 50 in 2024, and slightly higher in …