Turning 60 in 2025? Consider the New 401(k) ‘Super Catch-Up’
If you are turning 60 in 2025, you may want to consider taking advantage of the new 401(k) ‘super catch-up’ contribution option. Here are three ways to know if this is the right choice for you:
- Assess your financial goals and retirement plans to determine if the ‘super catch-up’ contribution aligns with your objectives.
- Consult with a financial advisor to understand the potential benefits and implications of utilizing the new 401(k) option.
- Evaluate your current financial situation to see if you have the means to take advantage of the increased contribution limit.
By considering these factors, you can make an informed decision about whether the new 401(k) ‘super catch-up’ is the right choice for you as you approach retirement in 2025.