Each year, the IRS sets a contribution limit for IRAs and 401(k), 457(b), and 403(b) plans, along with some other miscellaneous types of plans. These limits dictate how much money an employee (not employer) can contribute to the account in question.
The first actionable step you need to take in your wealth journey is freeing up some money. You may need to pay down some debt, stop living paycheck to paycheck, or simply increase how much you’re investing. Where ever you are in your journey, AJ covers what you need to do to take a big step forward.