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Frequently Asked Questions

What is the maximum amount you can put into your 401k?

The current maximum 401k contribution limit is $16,500 for adults that are under the age of 50. Adults that are 50 and over can contribute an additional $5,500 due to catch-up provisions.

What happens if you max out 401k?

Contributions are tax-deductible the year you make them, which can leave you with more money to save or invest. Once you max out your 401 (k), consider putting your leftover money into an IRA, HSA, annuity, or a taxable account. Many employers offer their employees 401 (k) plans.

What are the limits of a 401k loan?

Your 401(k) is subject to legal loan limits: There is a maximum loan amount set by law. If your 401(k) plan does allow loans, the law states that the maximum amount you can borrow will be $50,000 or 50 percent of your vested account balance, whichever is less.

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