Last year, the IRS increased 401(k) contributions for 2019 to $19,000 annually (versus the maximum contribution limit of $18,500 for 2018). That means that workers looking to max out their 401(k) should be reviewing their contribution percentages now to account for that extra $500….
The Match Game
One major benefit of saving in a 401(k) over an IRA is getting an opportunity to snag free money in the form of an employer match. It's estimated that 92% of companies that sponsor a 401(k) also offer matching contributions to varying degrees, and if yours does the same, you have a real opportunity to boost your nest egg tremendously….