Elizabeth Ayoola

Now, while all of this math sounds lovely, thank you for doing that, Mr. CFP, we do have to point out that not every employer-sponsored retirement plan offers the Roth feature.

But luckily, there are still ways for those who are 50 and older to boost their retirement savings.

Now, one thing you all can do is put catch-up contributions into an IRA instead.

You can't save as much as you would with a 401k.

The annual contribution limit for an IRA in 2026 is $7,500.

And then you get $1,100 in catch-up contributions.

And Roth IRAs are subject to income level restrictions, but something's better than nothing.

That's it.

It can get really complicated.

So you want to seek financial advice before you do that.

All right, Sean.

So I just want to know what your thoughts are on this new rule.

I agree, but I have a little rant.

I don't know.

I think it's a strange role.

It's a strange role because when you think about it, people who are 50 and older are hopefully in their highest earning years.

And then it's like they're being penalized after working all these years to get to that point of being a high earner by losing the tax break.

And I think these tax breaks can be helpful because they lower your taxable income if that's something that you want to do.

And then my other thought is that retirees and seniors as a whole tend to be vulnerable.

And I think they should be able to get that tax break if they need it.