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 periodically reassesses 401(k) contribution limits, but as of 2018, you are permitted to contribute $18,500 to your account annually, and if you’re over 50, and in catch up mode, you’re eligible to contribute $24,500. Of course, your employer may kick in and add onto these totals. The combined (that is, you and your employer) annual 401(k) contribution limit is $55,000 per year, or $61,000 for those 50 and over.