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401K Contributions-Automatic Savings for Now and Later

by Fern LaRocca CFP®

in 401K,401k Contribution Limits,401k Contribution Limits,401k limits,401K Maximum

You can contribute to a 401K plan that your employer provides through your paycheck. The money will be deducted from your paycheck and put into your 401K account before you pay taxes on it. Sounds scary? Nah, you won’t miss it. You are an adult now and you are saving money for your future. Go for it!

This is an automatic way to save. You get the immediate benefit of paying less taxes for the year. This savings feature is the most popular with people of all ages. Automatic deduction from your paycheck is a comfortable way to save and grow wealth.
Make the maximum 401K contribution that you can. Your employer can tell you when you can start and what your specific 401K contribution limits are.

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