Retirement Plan Contribution Limits for 2018

The best advice we can often give to save taxes is to contribute to a retirement plan.  Its also a good idea to plan for your future.

As always, you should consult your tax advisor about which plans are right for you.

IRS has released the following limits for 2018:

Traditional and Roth IRA – $5,500 plus $1,000 if over 50.

SEP IRA – $55,000

Simple IRA – $12,500 plus $3,000 if over 50.

401k, 403b, 457 – $18,500 plus $6,000 if over 50.

HSA Plans – $3,450 for self-only, $6,900 for family plans

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