Introduction
Retirement planning is an essential part of anyone’s financial journey․ While it is ideal to start saving for retirement as early as possible, life often gets in the way, and many individuals find themselves behind on their retirement savings․ However, there is a solution for those who have fallen behind – catch-up contributions․
What are Catch-Up Contributions?
Catch-up contributions are additional contributions that individuals aged 50 and older can make to their retirement accounts․ These contributions are over and above the regular contribution limits set by the IRS for various retirement accounts․
