Time to confirm you are maxing your retirement plans — 401k, 403(b), 457 type plans!

At the end of the month, we will find ourselves in the last quarter of the year. Now is a terrific time to make sure you are on track to maxing your retirement  deferrals – If you are short, you have plenty of time to catch up!

Confirm you are maxing your retirement plans now

The maximum for those under age 50 is $18,000 for most traditional retirement plans. If you are age 50, the max is $24,000.  401k

We should be very near 75% of the way to these levels now!

Reasons we see the max is missed:

  • Just turned age 50 and on the old schedule
  • Volatile income – bonus, raise, or other
  • Change in job
  • Change in back office HR or plan providers

One last super handy tip – If you are only working a portion of the year for any reason, accelerate your deferral to hit those maximums early !

Have a Great Day!

John A. Kvale CFA, CFP

8222 Douglas Ave # 590
Dallas, TX 75225


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