Here are the maximum amounts you can save into some common retirement plans in 2022:

  • 401k Pre-tax or ROTH – $20,500 (Increased from $19,500)
  • 401k Catch-up if over 50 – $6,500
  • SIMPLE IRA – $14,000 (Increased from $13,500)
  • SIMPLE IRA Catch-up if over 50 – $3,000
  • Traditional IRA or ROTH IRA – $6,000
  • Traditional IRA or ROTH IRA Catch-up if over 50 – $1,000

Cheers to 2022 and let us know if we can help you plan! If you are a client, we will be discussing this topic with you in the coming months.

Posted in Retirement

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