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A 60-Year-Old Can Still Add $35,750 to a 401(k) This Year
Original: A 60-Year-Old Who Starts Maxing a 401(k) Before October Can Still Add $35,750 This Year
Personal finance outlet 24/7 Wall St. calculates that a 60-year-old who begins contributing the maximum to a 401(k) before October can still put away $35,750 before the end of the year. The figure reflects higher catch-up contribution limits available to workers aged 50 and over, combined with the remaining months of payroll deductions. The item highlights how late-career savers still have room to boost retirement balances quickly.
Why now: It offers practical, time-sensitive advice for older workers trying to maximize retirement savings before year-end deadlines.
Evidence
- A 60-Year-Old Who Starts Maxing a 401(k) Before October Can Still Add $35,750 This Year · 24/7 Wall St.
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