Retirement Contribution Amounts Higher in 2015

Good news if you’re serious about saving for your retirement!

You can add more to your 401(k), 403(b), SIMPLE-IRA and other retirement plans next year. See our updated chart (below) for details.

If you’re enrolled in your company’s 401(k) or other workplace plan, make sure you adjust your contribution amounts upward starting January 1, 2015.

As a rule of thumb, you need to be saving 10% to 15% of income each year to maintain your lifestyle once you stop working.

Sorry! There’s no increase in contribution amounts for Traditional or Roth IRA accounts.Retirement Limits 2015

 

 

About Mari Adam

Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for over twenty-five years. Have a question about your financial situation? Ask Mari!

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