What Is the Maximum Allowable 401k Contribution?
If you have access to a 401k plan at work, it is a good idea to take full advantage of the opportunity to put money aside for retirement. Stashing money in your 401k reduces your current tax liability and allows your money to grow tax deferred all the way to retirement. The IRS does set limits on the amount an individual worker can contribute, so it is important to check the rules before you get started.
