Razors Edge ★ Posted March 3, 2022 Share #1 Posted March 3, 2022 Your 401k contribution max is HIGHER!!! If you're like me, that means a 50+yr old can put away $27k this year plus the other options like a Roth IRA too. 2022 401(k) Contribution Limits Workers who are younger than age 50 can contribute a maximum of $20,500 to a 401(k) in 2022. That’s up $1,000 from the limit of $19,500 in 2021. If you're age 50 and older, you can add an extra $6,500 per year in "catch-up" contributions, bringing your total 401(k) contributions for 2022 to $27,000. Contributions to a 401(k) are generally due by the end of the calendar year. 1 Link to comment Share on other sites More sharing options...
ChrisL Posted March 3, 2022 Share #2 Posted March 3, 2022 7 minutes ago, Razors Edge said: Your 401k contribution max is HIGHER!!! If you're like me, that means a 50+yr old can put away $27k this year plus the other options like a Roth IRA too. 2022 401(k) Contribution Limits Workers who are younger than age 50 can contribute a maximum of $20,500 to a 401(k) in 2022. That’s up $1,000 from the limit of $19,500 in 2021. If you're age 50 and older, you can add an extra $6,500 per year in "catch-up" contributions, bringing your total 401(k) contributions for 2022 to $27,000. Contributions to a 401(k) are generally due by the end of the calendar year. This impacts what, two people Bikeman and the walrus? Edit: sorry read it wrong it impacts everyone but Bikeman & the walrus! 😁 2 Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 3, 2022 Author Share #3 Posted March 3, 2022 4 minutes ago, ChrisL said: This impacts what, two people Bikeman and the walrus? Edit: sorry read it wrong it impacts everyone but Bikeman & the walrus! 😁 And @goldendesign. But the youngsters can go a grand more on the "regular" contribution from $19.5k up to $20.5k!!! 2 Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted March 3, 2022 Share #4 Posted March 3, 2022 I'm trying to remember the years I made 27K let alone got to put it away. There were a few, especially the consulting years, but working in research instead of having a corner office doesn't return a lot of money. It did return some very interesting years working on things that many said couldn't be done. Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 3, 2022 Author Share #5 Posted March 3, 2022 4 minutes ago, maddmaxx said: I'm trying to remember the years I made 27K let alone got to put it away. I'm sure the limits were lower back then. You actually pre-date 401ks, and they didn't get hopping until I was working. Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted March 3, 2022 Share #6 Posted March 3, 2022 14 minutes ago, Razors Edge said: I'm sure the limits were lower back then. You actually pre-date 401ks, and they didn't get hopping until I was working. True. We had a thing called pensions back then. But that was before it was discovered how easy it was to underfund or default on those. Pratt and Whitney had a large layoff of people about to turn 50 and by their rules cut the pensions in half. Management (those who weren't laid off) got large bonus checks those years. Link to comment Share on other sites More sharing options...
goldendesign Posted March 4, 2022 Share #7 Posted March 4, 2022 19 hours ago, Razors Edge said: And @goldendesign. But the youngsters can go a grand more on the "regular" contribution from $19.5k up to $20.5k!!! Yeah I've upped my contributions each year as I gain any monetary increases from my employer. The 401k is the smallest of my investments right now. Link to comment Share on other sites More sharing options...
Parr8hed Posted March 4, 2022 Share #8 Posted March 4, 2022 You bastards better not lump me in with you old-assed wrinkly crowd. Link to comment Share on other sites More sharing options...
BR46 Posted March 4, 2022 Share #9 Posted March 4, 2022 15 minutes ago, Parr8hed said: You bastards better not lump me in with you . You're married with children so I think that puts you in with the old-ass wrinkly crowd...or at least one foot in the old-assed wrinkly crowd. 1 1 Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted March 4, 2022 Author Share #10 Posted March 4, 2022 6 minutes ago, BR46 said: You're married with children so I think that puts you in with the old-ass wrinkly crowd...or at least one foot in the old-assed wrinkly crowd. Some choose to live in denial 1 Link to comment Share on other sites More sharing options...
Parr8hed Posted March 4, 2022 Share #11 Posted March 4, 2022 8 minutes ago, Razors Edge said: Some choose to live in denial 2 Link to comment Share on other sites More sharing options...
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