401(k) and IRA Contribution Increases for 2019

The IRS announced earlier in November that they are increasing the retirement limits for individuals and families.  This is great news for savers, planning for their retirement.  The IRA limit has not been increased for six years.  See below press release by the IRS explaining the details.  As the year comes to an end, this is a great time to ponder how these changes impact your retirement savings strategy!

401(k) contribution limit increases to $19,000 for 2019; IRA limit increases to $6,000