2019 Retirement Plan Contribution LimitsSubmitted by Madison Planning Group on February 19th, 2019
Maxing out your retirement account contributions can be a smart financial move not only to help reduce your tax bill, but also to ensure you're setting aside enough money for the future. But do you know how much you're allowed to contribute?
Contribution limits can vary greatly depending on the type of retirement account(s) you have, and many have increased their limits for 2019 (including IRAs for the first time in 6 years!) Some plans also have catch-up contribution options available for those who are nearing retirement.