Her expertise is in personal finance and investing, and real estate. A catch-up contribution is a type of retirement savings contribution that allows people age 50 or older to make additional ...

Catch-up contributions to retirement savings accounts like IRAs and 401(k)s just got a boost from the SECURE 2.0 Act, which was signed into law by President Biden on December 29, 2022. That means ...

If you’re age 50 or older, you get to benefit from higher contribution limits to help your retirement accounts catch up. These 401(k) catch-up contributions can boost your savings substantially ...

Catch-up contributions are designed to help people save extra money in tax-advantaged retirement accounts once they hit age 50. For many savers who are behind on their retirement savings goals ...

Starting at age 50, workers can supersede the mandated limits with what are known as catch-up contributions. How much more you can contribute varies on the type of account and regulations that are ...

This can help you save more for retirement and prepare for the years ahead. The tax deduction of these catch-up contributions could save you over $1,000 on your annual tax bill. When building your ...

Why are we suddenly talking about such big numbers? It's because a new hyper-focused catch-up limit goes into place beginning next year, thanks to an obscure change made in the SECURE 2.0 act.

Adults aged 60 to 63 can now make a larger catch-up contribution The additional $7,500 that workers 50 and older are eligible to contribute to a 401(k) is known as a catch-up contribution.

Once you hit age 64, the party is over, and you're back to making "regular" catch-up contributions. Here's how the optional catch-up opportunity works. Where to invest $1,000 right now?

The SECURE 2.0 Act has substantially changed retirement account rules. Some of these changes have already taken effect and caused confusion. That has been problematic for some older adults who ...

The SECURE 2.0 Act made some changes to how catch-up contributions work for retirement plans like a 401(k). Starting in 2025, a small group of people will be able to make "super catch-up ...