Retirement Moves You Absolutely Must Make Before 2024 Is Over
Summary
As 2024 concludes, it's crucial to enhance your retirement strategy. First, review your 401(k) contributions; the limit for those under 50 is $23,000. Increasing your contributions can reduce taxable income and boost retirement savings. Second, consider contributing to a Roth or traditional IRA, with a maximum of $7,000 for individuals under 50. Starting contributions now alleviates future financial pressure. Lastly, explore retirement perks like employer matching contributions and the Saver's Credit, which can provide additional funds and tax benefits. Taking these steps before year-end can significantly strengthen your financial future.
The Motley Fool
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