Three Actions to Save for Retirement
If you haven't started saving for retirement or you haven't saved enough, here are three actions you can take to put you in a better position during your golden years:
1. Contribute as much as possible every year to a 401(k) pretax retirement plan, up to the $18,000 maximum, or $24,000 if you are age 50 or older.
2. Contribute as much as possible to a Traditional or Roth IRA every year, up to the $5,500 maximum, or $6,500 if you are age 50 or older.
3. Contribute as much as possible to a health savings account (HSA), which can be used to offset medical expenses, up to $3,400 a year, or $4,400 if you are age 55 or older.
If you'd like to review your tax-advantaged retirement strategy, call us to schedule an appointment.