🔄 2025 IRS Update Alert!
Your workplace retirement contribution limits are getting a boost. Here's what you need to know:
↗️ Basic limit: $23,500
↗️ Age 50+ catch-up: $7,500
⭐ NEW! Ages 60-63 super catch-up: $11,250
What this means: If you're between 60-63, you could contribute up to $34,750 in 2025!
These increased limits will apply to most workplace retirement accounts, including 401(k)s, 403(b)s, and government TSPs. While IRA limits remain at $7,000 ($8,000 if you're 50+), this extra room in workplace accounts opens up new possibilities for your retirement strategy.
Just keep in mind that employers will need to opt in to offer the super catch-up provision. 💪
🔄 2025 IRS Update Alert! Your workplace retirement contribution limits are getting a boost. Here's what you need to know: ↗️ Basic limit: $23,500 ↗️ Age 50+ catch-up: $7,500 ⭐ NEW! Ages 60-63 super catch-up: $11,250 What this means: If you're between 60-63, you could contribute up to $34,750 in 2025! These increased limits will apply to most workplace retirement accounts, including 401(k)s, 403(b)s, and government TSPs. While IRA limits remain at $7,000 ($8,000 if you're 50+), this extra room in workplace accounts opens up new possibilities for your retirement strategy. Just keep in mind that employers will need to opt in to offer the super catch-up provision. 💪 #RetirementSavings #IRSUpdates #FinancialFuture #Retirement2025 Source:
#RetirementSavings #IRSUpdates #FinancialFuture #Retirement2025
Source: https://www.usatoday.com/story/money/2024/11/03/irs-401k-limits-2025-super-catch-up/75994341007/