Personal Finance

There’s Some Great News for Retirement Savers in 2022 | Personal Finance

Saving for retirement is one of the most crucial financial tasks on your to-do list. You’ll need money invested to produce income to supplement Social Security, and the more you can save each year of your career, the better off you’ll be.

That’s why this good news about retirement savings accounts in 2022 should excite you.

Image source: Getty Images.

For those who have a workplace 401(k), contribution limits are going up in 2022. In 2022, workers can invest a maximum of $20,500, up from $19,500. Catch-up contributions, which are available to workers ages 50 and up, will remain the same at $6,500.

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