Turning 50 in 2026? 2 Things You Need to Know

Group 1 - Turning 50 in 2026 allows individuals to make catch-up contributions to retirement accounts, enhancing their savings potential [4][5][6] - Contribution limits for 401(k) plans will increase, allowing those turning 50 to contribute up to $32,500, including catch-up contributions [5] - IRA contribution limits will also rise, enabling individuals to contribute up to $8,600 if they turn 50 in 2026 [6] Group 2 - Individuals should consider long-term care insurance as Medicare does not cover long-term care expenses [7][9] - The potential costs of long-term care can be significant, making it essential to prepare financially for these expenses [9]