There's a 401(k) catch-up contribution change coming for higher earners in 2024. Here's what older retirement savers need to know.
Alternatively, if the same employee makes a $6,000 Roth contribution, they're paying upfront taxes in the 35% bracket, which means paying taxes at a 20% higher rate upfront, Guarino said.
Of course, when comparing pretax and Roth 401 contributions, the best option depends on your individual goals, expected Otherwise, they'll have to deal with the so-called "pro-rata rule," which generally requires you to take both pretax and after-tax money with 401 withdrawals, Galli said.
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