This lesser-known 401(ok) characteristic offers tax-free retirement financial savings

Don Mason | The Picture Financial institution | Getty Photographs When you’re keen to extend your retirement financial savings, a lesser-known 401(ok) characteristic may considerably increase your nest egg, monetary advisors say.  For 2025, you’ll be able to defer as much as $23,500 into your 401(ok), plus an additional $7,500 in “catch-up contributions” if you … Read more

The average 401(k) savings rate is at record-high levels, report finds

Milan Markovic | E+ | Getty Images The average 401(k) savings rate has maintained a record high, as some retirement plans make it easier for workers to enroll and contribute. In 2024, the average combined savings rate for employee deferrals and company deposits was an estimated 12%, according to Vanguard’s newly released yearly analysis of … Read more