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The maximum amount you can contribute to retirement or tax-advantaged accounts annually. For 2024: 401(k) limit is $23,000 ($30,500 with catch-up); IRA limit is $7,000 ($8,000 with catch-up).
Contribution Limit is a key concept in retirement. Understanding this term helps you make more informed financial decisions. Use our related calculators above to see how contribution limit affects your specific situation.