limits

401(k) contribution limits will increase in 2023 - but should you max out yours?

401(k) contribution limits will increase in 2023 – but should you max out yours?

(Maurie Backmann) There’s a simple reason why people are advised to accumulate savings for retirement. Once you quit your full-time job, you’ll need more than your Social Security checks to cover your living expenses. If you’ve had an average income during your career, you can expect your Social Security benefits to replace about 40% of …

401(k) contribution limits will increase in 2023 – but should you max out yours? Read More »