Core Insights - The article discusses the increased contribution limits for retirement accounts in 2026, highlighting the importance of proactive financial planning for retirement savings [1][2]. Group 1: Key Changes in Retirement Accounts - In 2026, the 401(k) contribution limit will rise to $24,500 from $23,500 in 2025, while the IRA contribution limit will increase to $7,500 from $7,000 [2]. - Workers aged 50 and older earning more than $150,000 must make catch-up contributions on a Roth basis, meaning contributions will be made with after-tax dollars [3]. Group 2: Strategies for Retirement Savings - Financial planners recommend using any pay raises to increase retirement contributions, suggesting that a portion of a raise should be allocated to 401(k) contributions [4]. - Automating savings through automatic contributions to retirement accounts is advised to maintain discipline in saving [5].
3 Ways to Jump-Start Your Retirement Planning This Year, According to Financial Experts
Yahoo Finance·2026-01-15 14:47