FYI, the contribution limits on 401K, 403b and some 457 plans have increased for 2018 to $18,500 (up from $18,000 for 2017).
If you’re over 50, you qualify for the Catch-up provision, so you get to contribute an additional $6,000 (for both 2017 & 2018).
For my school teacher clients who have a 403b account (aka TSA), you get to contribute a total of $24,000 for 2017 and $24,500 for 2018. Add an additional $3,000 for 15 years of service in the same district, for a total of $27,000 for 2017 ($27,500 for 2018).
The contribution limit for IRA and Roth IRA remains the same at $5,500 plus an additional $1,000 for individuals 50 and over.
Call me at (831) 641-7127. Or, contact me HERE.
Check out the IRS website for the new release on 2018 403b and 401k contribution limits.
Hello, I’m Patti. I’m an award-winning, certified life & money coach and retirement planner. I’ve worked with hundreds of women, school teachers, and their families to create a big-picture plan for their money and secure retirement. As a result, I noticed how women do money differently than men. Yet, the unique (emotional) needs of women have not been well served by the financial services industry. Which is why I’m super passionate about this work. I’m on a mission to teach women how to heal their relationship with money, take charge of their future and create a life they truly love.