If your employer offers a 401(k), take advantage of this tax-advantaged retirement savings plan. Experts recommend saving 10-15% of your income. Factors to consider include IRS contribution limits, employer matches, and age. Catch-up contributions for those over 50 and super catch-up contributions for those aged 60-63 are available.

The IRS sets the maximum 401(k) contribution annually. In 2026, the limit is $24,500. Older savers have higher limits, with catch-up contributions of $8,000 for those over 50 and super catch-up contributions of $11,250 for those aged 60-63. Contributions are adjusted yearly for inflation.

Employers often offer matching contributions to 401(k) plans. For example, an employer might match 100% of your contributions up to 3%, plus 50% of contributions on the next 2%. Taking advantage of these matches can significantly boost your retirement savings.

401(k) contributions are deducted from your pay before taxes, reducing your net pay. Experts recommend starting with any amount you can afford, even small contributions can grow over time. Consider increasing your contribution rate annually until you reach the maximum allowed contribution.

Setting milestones for your 401(k) balance can help track your savings progress. Target a retirement balance equal to 6-10 times your gross salary. Milestones for age groups can vary, with flexibility to adjust based on lifestyle changes and future needs.

Contribute as much as you can afford to your 401(k) to capture employer matches and increase your rate annually. Adjust your plan as you near retirement to align with your future lifestyle needs. Funds contributed early in your career have the most growth potential, so maximize contributions from the start.

Read more at Yahoo Finance: How much should I contribute to my 401(k)?