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401k Limit 2024 Roth And Traditional. For 2023, the overall annual contribution limit (including both individual and employer contributions) was $66,000; Compared to traditional and roth iras, which have a maximum contribution limit of $7,000 (or $8,000 for those 50 and older), the solo 401k offers significantly higher limits.
Key takeaways the irs sets the maximum that you and your employer can contribute to your 401(k) each year. If you have access to both a roth and a traditional 401(k) plan, you can contribute to both, as long as your total contribution to both as an employee doesn’t exceed $23,500 in 2025.
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