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.
As an award-winning spiritual life & money coach who is highly trained in the financial & insurance services industry, my focus is women, healing and financial empowerment. Currently, I’m fascinated by the mind-body-money connection because this is where you truly release the blocks and patterns that are holding you back from enjoying the financial success you truly desire.
My goal is to help you break free of the blocks and patterns that hold you back in any aspect of your financial journey. But, more importantly, I want you to be able to retire with enough money to take care of your needs throughout your golden years (when you can no longer work), no matter how long you may live.