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401k Maximum Contribution Limit for 2006

In 2006 you can contribute up to $15,000 to your 401k. Be careful as all the usual government caveats and restrictions apply.

One additional note for those of you in the age fifty and older club is that you may be eligible to contribute and extra $5,000 as a catch up contribution.

As the tax year comes to an end make sure you are at least taking advantage of your employer match. If you managed to max out your 401k then congratulations, that was hard but fruitful work. Taxes are the biggest expense for most people, setting aside $15,000 tax free is a phenomenal accomplishment.

For more details checlk out the IRS site.

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401k Maximum Contribution Limit for 2006:

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