Financial, Investment and Estate Planning Blog
Finances and Estate Planning are 2 critical life areas you can't leave to chance. In this blog, I will share various articles, tips and advice to help you navigate these areas. But a personalized 1 on 1 chat will always trump reading a blog. Call me today!
Are You Eligible for a Catch-Up Contribution?
The Internal Revenue Service (IRS) recently increased contribution limits for several types of retirement plans. That's good news if you are trying to help keep your long-term wealth strategy on track.
If you are 55 years of age or older, you have the opportunity to make catch-up contributions.
There are catch-up increases for most retirement plan types, so talk with a financial professional about your unique situation.
If you are 55 years of age or older, you have the opportunity to make catch-up contributions.
- For 401(k) plans, the 2024 contribution limit for those 50+ is $30,500.
- For traditional and Roth IRAs, the catch-up contribution limit is $8,000.
There are catch-up increases for most retirement plan types, so talk with a financial professional about your unique situation.
Reach out to learn more.
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