The theme this week on the Retirement Quick Tips Podcast is: How To Max Out Your Retirement Savings in 2022

Today, I’m talking about 2022 Retirement Plan Contribution Limits

• Know the max and adjust accordingly
• • Story of a client who was “maxing out” at $16,500 (in 2011!)
• The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased to $20,500. On top of this, you can save an additional $6,500 catch-up contribution if you’re 50 or older
• Limits on contributions to traditional and Roth IRAs remains unchanged at $6,000 + $1,000 additional if you’re over 50
• Roth phase-outs:
• • $129,000 to $144,000 - Single taxpayers and heads of household
  • $204,000 to $214,000- Married, filing jointly

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast.

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance