New Retirement Plan LimitsNovember 4th, 2018 at 05:42 pm
The IRS announced new retirement plan limits on November 1st. The 401k limit increases to $19,000 and the IRA limit increases to $6,000. For those under 50, you can contribute $1000 more to your retirement accounts next year. Both plans were projected to increase & it's nice to know that it's official. For those of you that contribute biweekly you'll be contributing $731 per period for your 401k(if you choose even distributions) and $500 a month to your IRA.
Im looking forward to meeting my max once again next year. Although the market has had a rough year, I am still committed to contributing up to the IRS limits.