How much money can I contribute annually to a regular 401(k) or a Roth 401(k)?
In the Video above, Scott Farnsworth, Central Florida's Tax-Free Retirement Expert answers a frequently asked question: How much money can I contribute annually to a regular 401(k) or a Roth 401(k)?
"The amount of contribution an employee can make to a regular or a Roth 401(k) is the same. Of course it requires that you have income up to this amount. The limit for a worker under the age of 50 is $18,000 per year. After the age of 50, an employee may contribute an additional $6,000 of catch-up contribution. These rules are a little bit complicated because if you're spouse is working and has an employee plan of his or her own, there may be other limitations."