Keyword Analysis & Research: 401k limits 2009

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Frequently Asked Questions

What is the maximum allowable contribution for 401k?

Great question and I updated the post with the information. Your employer’s 401K maximum contribution limit is is $49,000 or 100% of your salary, whichever is the smaller amount. Though most employers rarely give anywhere near the maximum, with most employers matching 3% to 6% of employee contributions.

Is maxing out 401k sufficient for retirement?

Your 401 (k) can help you accumulate more than enough money to live the retirement of your dreams. Even if you can't max out your 401 (k) every year, investing your contributions can help it grow by a lot. When investing, you should always make sure that you're comfortable with the level of volatility your asset allocation model will experience.

Is there an age limit for 401k contribution?

Most companies require those who contribute to 401K plans to be at least 21 years of age and to have been with the company at least one year. Beginning to save for the future at such a young age can to lead to a very prosperous retirement.

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