This article https://thefinancebuff.com/401k-403b-ir ... imits.html projects the elective deferral limit for 2019 to raise to $19,000.
The official numbers from the IRS are released in October.
2019 Contribution Limits ~ Projection $19,000
Moderator: Aitrus
Re: 2019 Contribution Limits ~ Projection $19,000
Here is my 2018 flyer on this. In mid October when the new limits come out, I will write a new 2019 version.
Https://tspcalc.com/TSP_vs_IRA_2018.pdf
Https://tspcalc.com/TSP_vs_IRA_2018.pdf
Owner/creator of TSPcalc.com - "Know your numbers"
Re: 2019 Contribution Limits ~ Projection $19,000
While we're on the topic, why does the IRS limit retirement contributions at all? I've heard the argument against Roth and taxes but 401k?
Re: 2019 Contribution Limits ~ Projection $19,000
Because it is a tax-advantaged plan.JasonZepp wrote:While we're on the topic, why does the IRS limit retirement contributions at all? I've heard the argument against Roth and taxes but 401k?
If you didn't have a 401(k), then you would have to invest in taxable stocks. That is, you use after-tax money to buy stocks, and you pay capital gains on the stocks when you sell them.
The 401k is a tax shelter for investments. That is why it has a limit.
Owner/creator of TSPcalc.com - "Know your numbers"
Re: 2019 Contribution Limits ~ Projection $19,000
Any news on this yet?
Re: 2019 Contribution Limits ~ Projection $19,000
Last year it was announced October 19.
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