The IRS has announced updated contribution limits for retirement plans in 2025, allowing individuals to save more for their futures. The 401(k) contribution limit is now increased to $23,500, a rise from $23,000 in 2024. Meanwhile, the IRA contribution limit stays at $7,000, but other changes are worth noting for taxpayers planning their retirement savings … Continue reading 401(k) limit increases to $23,500 for 2025, IRA limit remains $7,000