Increasing your 401(k) or IRA contributions by just 1% can make a big difference — here's how much
January 23, 2020 at 16:18 PM EST
The 401(k) contribution limit increased by $500 this year, from $19,000 to $19,500 for employees under 50. But even if you aren't in the financial position to max out your account, experts say increasing contributions by as little as 1% can still make a big difference in building wealth.