Make money work for you!

  • Home
  • Personal Finance
  • Budgeting
  • Shopping
  • Taxes

Ready to Max Out Your 401(k) in 2023? Here Are The Steps!

November 28, 2022 · Personal Finance
money mistake 2023
Photo by Twin Design from Shutterstock

Sign up for a direct deposit

Contributions to your 401(k) plan are usually withheld from your paycheck right before you even get the chance to spend the money. This is probably the fastest way to add money into your account and reduce the temptation to skip a deposit.

You could be asked to select a percentage of your salary to contribute to the 401(k) plan. A 50-year-old worker that earned $100,000 will need to contribute 22.5% of pay to a 401(k) plan, to max out the account in 2023.

Even so, if you choose a savings percentage that will let you max out your account, and then get a mid-year raise, then you might need to decrease your savings rate, so you can avoid exceeding the 401(k) contribution limit.

Pages: 1 2 3 4 5 6 7 8

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest Posts

  • Are You a Homeowner? Here Are 5 Trump Tax Bill Changes That Could Affect You
  • social security The 2026 Schedule of Social Security Offices – What You Need to Know
  • snap Amazon Refund: How Much You Could Receive
  • amazon prime, money Here’s How to Get Your Refund From Amazon’s $2.5B FTC Settlement
  • social security, Social Security task Who Will Receive Social Security Payments on February 11, 18, and 25?

Related Articles

credit cards for amazon purchases, cyber monday, money

10 Best Cash-Back Credit Cards Available in the U.S. Right Now

5. Blue Cash Preferred® Card from American Express — Best for grocery & streaming spenders…

Read More →
A person sits at a desk in a home office, working on a laptop, with sunlight illuminating the room.

Part-Time Jobs That Won’t Affect Your Social Security Benefits

Your Top Questions About Work and Social Security The rules around Social Security can bring…

Read More →
warehouse

10 Things You Should Always Buy in Bulk at Warehouse Clubs

Discounted movie tickets If there’s anything I love more than food, it is buying discounted…

Read More →
small business

Great Small Business Ideas For Retirees

Are you thinking of owning a small business? If you always imagined leading your passion…

Read More →
home-selling mistakes

6 Home-Selling Mistakes That Make You Lose Money

5. Not waiting to negotiate We know that everyone thinks that the price they list…

Read More →
healthcare wealth

Here’s How to Cover Your Healthcare Costs in Retirement in Your 50s

Learn more about Medicare Many adults think that Medicare will take care of most of…

Read More →
Work From Home, change 2023

10 New Jobs That Pay You Daily (Anyone Can Do This!)

5. Handy If you’re good at cleaning or doing small home projects, it’s likely worth…

Read More →
Money

Wondering If You’re Losing Money? You ARE by Throwing Away These 7 Things

Books Books are known to be one of the biggest antique goldmines out there. Collectors…

Read More →
Amazon

Are You Eligible For a Refund From Amazon? Find Out Here!

Who Is Eligible to Receive a Refund? Consumers may qualify for a refund if they…

Read More →
The Money Place

Make money work for you!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Explore

  • Subscribe
  • Unsubscribe
  • Newsletter
  • Terms and Conditions
  • Do not sell my personal information
  • Privacy Policy
  • Contact

Categories

  • Budgeting
  • Personal Finance
  • Shopping
  • Taxes

© 2026 The Money Place. All rights reserved.