401k Roth Ira Contribution Limits 2024

401k Roth Ira Contribution Limits 2024. Employees can invest more money into 401 (k) plans in 2024, with contribution limits increasing from 2023’s $22,500 to $23,000 for 2024. For example, someone could convert their entire $1.6 million 401 (k) in a single year.

Both 401 (k)s and iras come in two primary forms, each offering advantages depending on your tax situation and retirement strategy: Contributions to 401 (k)s can be automatically deducted from your paycheck.