Share  |  Print
Money Minute
Quick Tips
Increased Contribution Limits for 401k and IRAs
Money Minute
In 2019 you can save even more for your retirement.
 

The IRS recently announced increased contribution limits for 2019 so you’ll be able to invest even more into your 401k or IRA.

Those with a 401k, 403b or thrift savings plan will be able to contribute up to $19,000 per year — that’s a $500 increase from last year. And if you’re 50 years old or older, you’ll be able to contribute a maximum of $25,000.

Likewise, IRA contributions also increased by $500. So for 2019, you’ll be able to invest up to $6,000 into a Roth or Traditional IRA. Those age 50 and over will be able to invest as much as $7,000.

Admittedly, many of us aren’t maxing out our contributions every year, but even small changes can move you closer towards your goal. Some find increasing their contributions by just 1 or 2 percent each year to be effective. Before you know it, you’ll be surprised at how much you’re saving for your retirement.

The point is to take action and to take advantage of opportunities to prepare for your own financial future.




This information in the Financial Tips section is provided for educational purposes only and is not tax, legal, financial planning or investment advice. Neither the information nor any opinion expressed in this section constitutes an offer to buy or sell any securities or advisory products. The information provided is general and is not information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. You should not regard this information as a substitute for the exercise of your own judgment. Investing involves risk.

 
Get to Know Ariel
No-load mutual funds for investment accounts, IRAs, 401(K) plans/rollovers, or college savings programs for individual investors
Learn more about Ariel Investments from the people who know it best
Request a kit to learn everything you need to know to invest with Ariel
Start investing with Ariel today
 
 
Past performance does not guarantee future results. © Ariel Investments, LLC. This website and all of its content is for informational and educational purposes only and should not be considered to be investment advice or a recommendation to buy or sell any particular security. The mutual funds offered by Ariel Investment Trust are distributed by Ariel Distributors, LLC, a wholly-owned subsidiary of Ariel Investments, LLC. Use of this website is subject to our Terms & Conditions. The Ariel mutual funds referred to in this site may be offered only to persons in the United States. This web site should not be considered a solicitation or offering of any investment products, funds or services to ineligible investors, investors for whom such products, funds or services are not suitable, or investors outside the United States.

Check the background of this firm on FINRA's BrokerCheck
Ariel Distributors, LLC is a member of the Securities Investor Protection Corporation