Social Security – getting an 8.7% increase
– Average monthly retiree benefit of $1,656 will increase $144.10
401(k)
Under 50 years of age – $22,500
Over 50 years of age – additional $7,500 catch-up
SIMPLE IRA
Under 50 years of age – $15,500
Over 50 years of age – additional $3,500 catch-up
Individual IRA and Roth
Under 50 years of age – $6,500
Over 50 years of age – additional $1,000 catch-up
HSA – Family – $7,750
Over 50 years of age – additional $1,000 – Single – $3,850
Over 50 years of age – additional $1,000
Gift Allowance – $17,000
Allowable by IRS
To children, they can receive up to $17,000 per parent
Same for 529 Education contributions.