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Thanks. Once you are over the age of 65, there isn't enough time for your money to grow by a significant amount before you'll need to use it. While there should be some portion of growth stocks ...

Contribution Limits. Employee contribution limit of $20,500/yr for under 50; $27,000/yr for age 50 or above in 2022; limits are a total of pre-tax Traditional 401 (k) and Roth 401 (k) contributions. Total employee (including after-tax Traditional 401 (k)) and employer combined contributions must be lesser of 100% of employee's salary or $58,000 ...

“Contributions to a SEP or Solo 401 (k) can be made up until the due date of the return, including extensions.” In some states, if you’re receiving a refund, you don’t need to file an extension....

Thus, the overall contribution limit (barring limits) is 20% of 92.9% (that is, 18.6%) of net profit. For example, if a sole proprietor has $50,000 net profit from self-employment on Schedule C, then the "1/2 of self-employment tax credit", $3,532, shown on adjustments to income at the bottom of form 1040, will be deducted from the net profit.