Reminder to Update Your 2020 Retirement Plan Limits
As financial advisors, we often see missed opportunities for tax-deferred savings. If you are currently contributing to a retirement plan or will be eligible to do so sometime in 2020, you’ll want to be sure to update your deferral amounts to the maximum amount allowed (see table below). If you are unable to max your contributions, you’ll want to defer, at a minimum, the amount needed to receive any company matches offered by your employer since these matches are considered “free money.”
Please contact us if you have questions about your tax-deferred options or need help managing your retirement savings. Your life awaits, plan with confidence.