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The IRS recently released the inflation-adjusted limits -- here's the new info for retirement savers.
Each year, the IRS announces limits for saving in IRAs, 401(k)s, and other retirement accounts. In this video, Certified Financial Planner® Matt Frankel breaks down the new limits and what retirement savers need to know before we head into 2025.
*Stock prices used were the midday prices of Nov 4, 2024. The video was published on Nov 5, 2024.
Matt Frankel, CFP, is a contributing Motley Fool Personal Finance Expert and Stock Market Analyst covering financial and real estate sectors, plus personal finance. Prior to The Motley Fool, Matt was a high school and collegiate mathematics instructor. He holds a B.S. in Physics from University of South Carolina, an M.S. in Mathematics from Nova Southeastern University, and a graduate certificate in financial planning from Florida State University. Fun fact: Matt won a SABEW award for coverage of the 2017 Tax Cuts and Jobs Act.
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Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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