Contributing to tax-deferred retirement accounts is an attractive option for building your nest egg. However, the author of today’s article cautions that “While contributing to your 401(k) account can be beneficial, exceeding the statutory limit could cost you a lot.” In order to ensure that your contributions are all above-board, the author proceeds to outline the rules pertaining to contributing to: a 401(k), more than one 401(k)s, SIMPLE IRAs, Roth 401(k)s, Solo 401(k)s – and more. For more – including an example showing how much an excess deferral can cost you – CLICK HERE.
