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2018 Retirement Plan Limits

October 22nd, 2017 at 01:37 am

The maximum contribution limit for 401k's will increase to $18,500 in 2018. The IRA limit is unchanged. I am happy that we will get an increase.

In other news, I read in the NYT & other sources that Republicans are looking at limiting the 401k contribution to $2,400 in future years in order to finance their tax cut plan. This is insanity. The last thing we need along with the tax increase on the middle class and cuts to Medicare & Medicaid, is for them to limit what Americans save for retirement. I hope that all proposing this are voted out during the midterm elections next year.

Posted in Investing ideas, Retirement readings, Investing, Retirement | 10 Comments »

10 Responses to “2018 Retirement Plan Limits”

  1. Joan.of.the.Arch Says:
    October 22nd, 2017 at 03:52 am 1508644347
    1508644347

    I read that about proposed 401k contributions, too. Frown I have a hard time believing it would go through. (Please!)

  2. PatientSaver Says:
    October 22nd, 2017 at 10:47 am 1508669265
    1508669265

    You're right...that DOES sound insane...in essence, limiting middle Americans' ability to save to finance tax cuts for the wealthy.

  3. CB in the City Says:
    October 22nd, 2017 at 01:24 pm 1508678652
    1508678652

    You would think this (along with many other things) would make it clear to middle-class Americans that Republicans are never in their corner, but somehow that never happens.

  4. MonkeyMama Says:
    October 22nd, 2017 at 01:45 pm 1508679914
    1508679914

    That $2,400 would never go through. I wouldn't worry about it.

  5. LivingAlmostLarge Says:
    October 22nd, 2017 at 05:07 pm 1508692033
    1508692033

    It's insanity. I don't get how poor people vote against their economic interest? Is it not about economics?

  6. My English Castle Says:
    October 23rd, 2017 at 02:47 am 1508726843
    1508726843

    This is a ridiculous plan, but we've seen planned of insanity go through. I think it's important to call your representatives and let them know. It's on my "to-do" list for tomorrow.

  7. Joe Says:
    October 23rd, 2017 at 11:18 am 1508757491
    1508757491

    I would hate to see the 18K limit reduced, but let's be honest ... 18K is an amount only upper middle income earners can take advantage of.

  8. snafu Says:
    October 23rd, 2017 at 05:51 pm 1508781108
    1508781108

    It appears as though voters have suspended their regular belief system. Who are these folks who accept every verified lie as absolute truth no matter the facts? If you believe the SS system will disintegrate as an underfunded liability, what keeps belief in veracity of ROTH remaining tax free on distribution 30 years in the future? That legislation can be changed with a few pen scratches. The deficit has escalated $ 2 T recently and no lone cares. What happens when QE must normalize?

  9. Amber Says:
    October 24th, 2017 at 01:18 am 1508807905
    1508807905

    i saw this proposal and thought this must be some sort of a joke.

  10. terri77 Says:
    October 24th, 2017 at 10:41 am 1508841676
    1508841676

    Joe, I am not considered upper middle income, but have been contributing the maximum since 2008. A reduction of any type would hurt me.

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