You can funnel $20,500 into your 401(k) plan for 2022, up from $19,500 from 2021. Here’s why it may pay off to boost contributions now.
If you aim to max out 401 contributions for 2022, it may pay off to start early, as spreading it out may be more manageable than year-end increases.
Before maxing out the plan early, however, you need to know how your 401 match works, Valega said. Many companies only kick in matching funds when you defer part of your paycheck. "It means they don't really care when you put in your money," said Valega."They will make sure that you get the full match at the end of the year."
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