The #IRS just announced that it will boost the maximum contribution limit to #401k accounts by $2,000 next year... to $22,500! This is the largest increase on record. The contribution limit for an IRA is also set to increase... to $6,500 from $6,000. As Dustin with Mundorf Wealth Management explains to Erin Kennedy, this move will allow millions of us to contribute thousands more into tax-advantaged retirement accounts.
But keep in mind, every retirement plan has to include tax planning and tax diversification. In fact, 401(k)s are known as "retirement tax bombs." If you'd like to talk through the tax implications of your retirement accounts, and why you should consider #Roth accounts, please reach out to Dustin with a call or text to 830-476-2505 or by visiting www.LongLiveMyMoney.com
#TaxPlanning #RetirementPlanning #WealthManagement #TaxDiversification