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Heres a look at what you should be doing with your 401(k).
For some, a lower savings rate might be appropriate, as you might have more pressing financial priorities.
Dont talk yourself out of getting started by thinking your contribution percentage is too small, Sharma said.
The limit for 2024 is $23,000, except those ages 50+ can contribute up to $30,500.
Depending on your income, that could be well above 15%.
Maxing out your 401(k) can also make sense based on your income and tax situation.
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