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.
This report is intended to be used for educational purposes only and does not constitute a solicitation to purchase any security or advisory services. Past performance is no guarantee of future results. An investment in any security involves significant risks and any investment may lose value. Refer to all risk disclosures related to each security product carefully before investing. Soundmark Wealth Management, LLC, its advisors and its affiliates do not provide tax or accounting services. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, tax or accounting advice. Please consult with your tax advisor prior to engaging in any transaction.