The Maximum Contribution for a Roth IRA and 401(k) are as follows:
Roth (under 50): $5,500
Roth (over 50): $6,500
401(k) (under 50): $17,500
401(k) (over 50): $23,000
If you are over age 50, you can "catch up" on contributions which is why that number is higher than those under age 50. In your 401(k), if you have monies which are being matched, then I would contribute up to the match. Then I would maximize my contribution in the Roth next.
Reach out to your adviser who can review your specific situation and help you get the most out of your retirement monies including finding out what your goal is.
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Roth (under 50): $5,500
Roth (over 50): $6,500
401(k) (under 50): $17,500
401(k) (over 50): $23,000
If you are over age 50, you can "catch up" on contributions which is why that number is higher than those under age 50. In your 401(k), if you have monies which are being matched, then I would contribute up to the match. Then I would maximize my contribution in the Roth next.
Reach out to your adviser who can review your specific situation and help you get the most out of your retirement monies including finding out what your goal is.