Maximizing Your 2026 Retirement Limits: A Paycheck-by-Paycheck Guide
A new year brings new financial opportunities, and 2026 is serving up a major milestone for your future. The IRS has officially increased the 401(k)-employee deferral limit to a historic $24,500 for the year. If you are aged 50 or older, you can stash away an additional catch-up contribution, making your potential tax-advantaged savings even more powerful.
Just starting your career? Retirement may feel like it's years away, but there's no better time to begin preparing. Thanks to the power of compound growth, the contributions you make today can have a significant impact on your financial future. Let's take a closer look at how time can become one of your greatest retirement planning advantages.
Whether your goal is to hit that absolute maximum or simply ensure you aren't leaving free money on the table, breaking these big numbers down into a paycheck-by-paycheck strategy is the best way to succeed. Let’s look at how you can optimize your retirement strategy this year.
Youth Saves Month Resources
April is National Credit Union Youth Month and National Financial Literacy Month! Youth financial literacy is a critical skill to develop — the earlier, the better. We hope these resources help bring home fun lessons!
Align Your Budget to Life's Milestones
Life is full of transitions — starting a new job, getting married, buying a home, having children. Each phase comes with new financial priorities, so being mindful of how we save, spend, and plan as we progress is essential.
Fertilize Funds with Compounding
Using an interest-bearing or dividend-bearing account is a good way to grow your money, but to optimize that growth, you need to understand how and when dividends are paid and why compounding can be a game-changer.
Individual Retirement Account Changes
This time of the year is essentially the eleventh hour to double check your finances so that everything will be in order for your 2024 tax filing. Individual retirement accounts, IRAs, should be included in that preparation.