Posts made in January, 2017

2017 Saving Limits on Retirement Plans

Posted by on Jan 17, 2017 in Financial Focus

With 2017 well on its way, it’s a good idea to review and update your savings goals for the year.  The 401k contribution limit has remained unchanged at $18,000, with a $6,000 catch up contribution available for participants over age 50.   IRA contribution limits are also the same as 2016 but the amount of income allowable before the deduction is phased out has increased.   The income limitations for Roth IRAs also went up a bit.  The IRS updates these numbers every so often to adjust for inflation.  Don’t have a savings goal for the year?  It may be time to review your financial plan....

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