The maximum contribution to a 401k in 2022 is $20,500 for those under age 50 and a catch up provision of an additional $6,500 if you are over 50. If you can not max out your 401k, don't feel bad! Only about 15% of people do. The main thing is to contribute as much as what your company match is to get the "free" money. Consider other alternatives beyond that, such as a Roth IRA and a taxable account. Instead of maxing out your 401k, think about maxing out your retirement in other areas. It comes down to taxes. In this episode we discuss the alternatives and how to position yourself for retirement.
Helping you to be wise with your money!
To see more videos discussing personal finance Subscribe:
https://www.youtube.com/channel/UCbDA...
For more resources: 👉 https://wfa-nc.com/insights
📝 Get your Free Retirement Plan checkup
https://wfa-nc.com/retirement-plan-ch...
To schedule a complimentary consultation with me: 👉...
