Make Catch-Up Contributions
If retirement is closing in on you, don’t hesitate to use catch-up contributions to catch up on retirement savings. For instance, in 2020, you can add an extra $5,000 to a 401(k), 403(b) or 457 plans if you’re 50 or older. You can also try to increase your IRA contributions by $1,000. It will all be worth it in the end!
Leave a Reply