2022 Contribution Limits
It’s that time of year again! The IRS recently announced the updated contribution limits for retirement plans in 2022. Nominal increases were seen across various retirement account types even with higher-than-normal inflation experienced in 2021.
Of note, 401(k) plans received a $1,000 increase to allow those under age 50 to contribute $20,500 while those 50 and over in 2022 will have the opportunity to add $27,000.
Watch Colin’s update video here!
Click here to download our complimentary Retirement Contribution Limits Guide. 2022 Contribution Limits
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The opinions expressed in this program are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security. It is only intended to provide education about the financial industry. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional.
Correct Capital Wealth Management is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Correct Capital Wealth Management and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Correct Capital Wealth Management unless a client service agreement is in place.
Savology and Correct Capital Wealth Management, LLC are not affiliated companies. Savology is a digital financial planning and financial wellness company. Correct Capital Wealth Management offers Savology to those interested, and by using our link to Savology, you agree to their Terms of Service. Savology is an education tool and does not provide investment, legal, or tax advice.