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401k Contribution Calculator
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Inflation-Adjusted Projections
Catch-Up Contribution Guide
If you’re age 50 or older, you can make additional “catch-up” contributions to your 401(k) and IRA accounts. These allow you to save beyond the standard limits to boost your retirement savings.
401(k) Catch-Up Contributions
In 2023, the 401(k) contribution limit is $22,500. If you’re 50+, you can contribute an additional $7,500, for a total of $30,000.
IRA Catch-Up Contributions
The IRA contribution limit is $6,500 in 2023. Those 50+ can contribute an extra $1,000, for a total of $7,500.
Strategies for Catch-Up
1. Maximize employer matches first
2. Automate increases with raises
3. Reduce expenses to free up savings
4. Consider working longer
Tax Benefits
Catch-up contributions are tax-deferred in traditional accounts, or tax-free in Roth accounts, providing significant tax advantages.
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Expert advisers, retirees, and financial bloggers are invited to share their unique case studies and insights. Publish your retirement story or strategy and earn a featured backlink! Email submissions: guestpost@retirementoptimizer.com
User Story
“Thanks to the Retirement Savings Optimizer, I adjusted my 401k contributions and am now on track to retire 3 years earlier. The inflation scenario planner helped me avoid common mistakes!” ā Susan P., Chicago, IL (2025)
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Meet Our Author
Author: Daniel Lee, CFPĀ®, MSc (Economics)
Background: 15 years in retirement planning. Author for Investopedia, CNN Money; Speaker at NerdWallet Summit 2023. Cited by SSA.gov and IRS.gov.
Credentials: Certified Financial Planner, Series 65 License, member NAPFA, regularly quoted in Forbes and WSJ.
Content reviewed Oct 2025. For accuracy, check annual updates & regulatory changes. Privacy Policy | Disclaimer | Contact
