Maximum 401k Contribution 2024 Over 55 Years

Maximum 401k Contribution 2024 Over 55 Years. This amount is up modestly from 2023, when the individual 401 (k) contribution limit was. You can contribute up to $7,000 to an ira in 2024 if you're under 50, or $8,000 if you're 50 or older.

This means that if you are 50 or older, you can potentially contribute a total of $30,500 to your 401 (k) in 2024. This limit applies to both traditional and roth employee contributions.