An accomplished conservative wealth management planner, Chester “C. Edziu” Pacana of Tennessee operates as a 403(b)/457 agent and financial consultant at Appreciation Financial. Knowledgeable about annuities and retirement savings strategies, Chester Pacana led a seminar entitled “New Rules of Saving for Retirement.” To have financial security in retirement, you need to start saving early. In 2019, the maximum contribution limit to Independent Retirement Accounts (IRAs) was raised to $6,000, up from $5,500 in 2018. If you own more than one IRA account, you may only contribute a total of $6,000 annually across all your IRA accounts combined. However, if you are age 50 or older, you can contribute an additional $1,000 as a “catch-up” contribution, for a total of $6,000. If you have an employer-sponsored retirement plan, such as a 401(k) or 403(b), your maximum contribution limit in 2019 is $19,000, a $500 increase over 2018. If you are age 50 or older, you are allowed to contribute an additional $6,000 yearly to “catch up” with your retirement savings goals.
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AuthorChester Pacana - Experienced Conservative Wealth Management Planner. Archives
July 2019
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