Maximize 401K: Boost Retirement Security

Only 14% of Vanguard retirement plan participants maxed out their 401K contributions in 2024, highlighting the challenge of saving enough for retirement. The IRS increased the annual limit to $24,500 for 2026, offering a greater opportunity for saving. Financial experts advise everyone to aim for these maximums, as early and aggressive saving can significantly grow over time. Despite this, many workers still fall short on retirement savings, with only one-third feeling their plan is on track. Maximizing 401K contributions can provide a stronger financial foundation for the future, especially with Social Security uncertainties.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.