Andrew Goldman has been writing for over 20 years and investing for the past 10 years. He currently writes about personal finance and investing for Wealthsimple. Andrew's past work has been published in The New York Times Magazine, Bloomberg Businessweek, New York Magazine and Wired. Television appearances include NBC's Today show as well as Fox News. Andrew holds a Bachelor of Arts (English) from the University of Texas. He and his wife Robin live in Westport, Connecticut with their two boys and a Bedlington terrier. In his spare time, he hosts “The Originals" podcast.
The government reassesses employee 401K contribution limit annually. As of 2020, the limit was set at $19,500.
This, of course, doesn’t include any matching contributions tossed in by your employer. And those over 50 can kick in even more in “catch up” contributions — an extra $6,500.00 per year.