Money Talk: New changes to your 401k may prove to be beneficial

Wealth Advisor Tom Rush says put in as much as you can, as soon as you can

YUMA, Ariz. (KYMA, KECY) - The amount a person can invest in their 401k has gone up for 2022. According to financial experts at the Yuma Investment Group, those with 401k's can now contribute an additional $1,000.

Wealth Advisor Tom Rush says it means that those under the age of 50 can now contribute up to $2,500 a year and those over the age of 50 can contribute $2,700.

Rush says that it's in everyone's best interest to max out their contributions. He says that put in what you can, as soon as you can.