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Want the Best of Both Worlds? Try This Investing Strategy

Want the Best of Both Worlds? Try This Investing Strategy

For tax year 2023, the maximum contribution to a 401(k) is $22,500 ($30,000 if you're 50 or older). For IRAs -- both Roth and traditional combined -- the maximum is $6,500 ($7,500 if you're 50 or older). A 401(k) is an employer-sponsored retirement account that lets you save and invest a portion of your paycheck pre-taxes.