401K Contributions Explained
Understanding the distinction between employee and employer contributions is crucial for maximizing retirement savings. The employee contribution limit has increased to $22,500 for 2023, allowing more room for growth. Self-employed individuals can benefit from additional limits, potentially exceeding $60,000 when factoring in employer contributions. This flexibility opens up a wealth of investment options compared to traditional employer-sponsored plans.In this clip
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409 | 401(k), Mega Backdoor Roth and the Premium Tax Credit | Sean Mullaney
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