Happy New Year! Some things stay the same and others change. IRAs and 401Ks remain one of the best remaining tax shelters because they allow your money to grow tax-free. But the amount you can invest in them changes from year to year.
Title: Your 2015 Retirement Accounts
While planning your investments this year, it is helpful to know the 2015 Updated IRA and 401(K) numbers:
- IRA: $5,500
- SIMPLE IRA: $12,500
- 401(k) or 403(b) or 457 plans: $18,000 plus and extra $6000 for the catch-up folks that are old.
- SEP IRA or Solo 401(k) plan: $53,000
Here’s to your success in the new year and always!
