401k 2024 Contribution Limits Over 50. This dollar amount is the same as in 2023. 401 (k) a 401 (k) is a great alternative if you have access to one through an employer.

Employees age 50 and older are subject to a higher contribution limit with either type of contribution. The contribution limit on individual retirement accounts will increase by $500 in 2024, from $6,500 to $7,000.