diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index 0e3d07c5c..20afc44bf 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -116,13 +116,13 @@ that we're already aware of. It is also worth asking on the Slack channels.
 
 ## Milestones
 
-We use milestones to track progress of specific planned releases. The current stable major release is the latest Helm version.
+We use milestones to track progress of specific planned releases.
 
-For example, if the latest currently-released version is `4.0.0`, an issue/PR which pertains to a
-specific upcoming bugfix or feature release could fall into one of two different active milestones:
-`4.0.1` or `4.1.0`.
+For example, if the latest currently-released version is `X.Y.Z`, an issue/PR which pertains to a specific upcoming bugfix or feature release could fall into one of two different active milestones:
+`X.Y.(Z+1)` or `X.(Y+1).0`.
 
-Issues and PRs which are deemed backwards-incompatible may be tracked using the relevant version label for major version discussions.
+Issues and PRs which are deemed backwards-incompatible may be added to the next major version
+discussion using the relevant version label (e.g. [label:v4.x](https://github.com/helm/helm/labels/v4.x)).
 
 An issue or PR that we are not sure if we will be addressing will not be added to any milestone.