ACHIEVING YOUR FINANCIAL FREEDOM WITH THE 401-K & GREAT NEWS – CONTRIBUTION LIMITS INCREASE IN 2022 – WHAT ARE YOU WAITING FOR!

ACHIEVING YOUR FINANCIAL FREEDOM WITH THE 401-K & GREAT NEWS – CONTRIBUTION LIMITS INCREASE IN 2022 – WHAT ARE YOU WAITING FOR!

Maxing out my 401-K contributions was one reason I ACHIEVED FINANCIAL FREEDOM!

The Feds increased 401K contribution limits to $20,500.00 in 2022, which is an increase from $19,500.00. Catch-up contributions to retirement accounts for those age 50 and up will remain unchanged at $6,500. Including their regular contributions, people 50 and up will be able to stash up to a limit of $27,000.00.

The higher contribution limit also applies to other retirement accounts, including 403(b), 457 and the federal Thrift Savings Plan.

About nine percent of Americans max out their 401K contribution limits.  Many simply CANNOT afford to max out this contribution.   I recommen do the best you can and each time you get an increase in compensation or promotion, add part of that increase to your 401K contribution plan.  I have never heard anyone say, DARN, I HAVE TOO MUCH MONEY IN MY RETIREMENT PLAN!  

The contribution limit for individual retirement accounts (IRAs) remains unchanged at $6,000.00 

CONCLUSION: ACHIEVING YOUR FINANCIAL FREEDOM WITH THE 401-K & GREAT NEWS – CONTRIBUTION LIMITS INCREASE IN 2022 – WHAT ARE YOU WAITING FOR!

Maxing out my 401-K contributions helped me achieve FINANCIAL FREEDOM!

I am a YUGEEEEEEE fan of the 401-K and other similar plans.  I GUARANTEE YOU WILL NEVER REGRET FUNDING YOUR 401-K!  And if you do, I am happy to take some of your MILLIONS off your hands!  I know how annoying those taxes can be! 

LET’S MAKE SOME MONEY – CRYPTOCURRENCY IS ACCEPTED! 

GIVING BACK – CHARITIES I SUPPORT

https://www.stjude.org/

https://www.woundedwarriorproject.org

YOU WILL ALSO LIKE – TRUST ME!

DO YOU WANT TO JOIN THE 401K PLAN MILLIONAIRE CLUB? {KINDA LIKE THE MILE HIGH CLUB – BUT A LOT LONGER LASTING!}

 

 

WHAT DO YOU FEAR MORE, RETIREMENT OR DEATH?

https://wealthbuildingpowers.com/2021/08/02/what-do-you-fear-more-retirement-or-death/

SO YOU DECIDED TO GIVE 3/4 OF A $$-MILLION TO A COMPANY WORTH $$-BILLIONS?

 

THE ROTH IRA IS SO GOOD THE FEDS MADE A MISTAKE!

ONE OF THE WORSE MISTAKES YOU CAN MAKE WITH YOUR 401 – (K) WHEN CHANGING JOBS

LEARNING FROM INTELLIGENT MINDS – MANDATORY!

RETIREMENT PLANS OTHER THAN THE 401-K TO GENERATE > $1 MILLION PORTFOLIO!

YOUR GREATNESS IS NOT WHAT YOU HAVE; IT’s WHAT YOU GIVE!

 

TRAITS OF U.S. MILLIONAIRES

BECOMING A MILLIONAIRE BY KISS-ING

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ABOUT ME

I am a proud nerd (as my beautiful wife and daughter have told me) investment and finance blogger with an N.C. State, Chemical Engineering, University Rutgers, MBA and Harvard University, Advanced Management education.

I left a corporate career because I desired to make a difference as a speaker and writer. I was blessed to be coached and mentored by strong women and men in my family and professional life.  It is my time to serve and give back.

DISCLAIMER

I started my first business at ~13 years of age (a small but brilliantly created plant nursery). I am a successful investor in stocks, options, real estate and am happy to share my finance and investment lessons.  I am NOT a licensed financial advisor.  Please do not construe my suggestions on this blog as recommendations for your situation.As an investor, you must establish your risk/loss tolerance. Investment in any asset involves risk, including complete loss. 

 Please seek your licensed CPA or fiduciary financial advisors for individual financial advice.  

I write this weekly blog to make an impact by reaching an audience and demonstrating the need for financial literacy. I will help you get there.

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Powers Investments Management, LLC

This blog will provide, information and simple strategies, that will assist you to achieve YOUR financial objectives and long term targets. For over 30 years, I solved multi-million dollar problems, for Fortune 10-250, companies. My formal education includes: Business, Finance and Chemical Engineering {Problem Solving} at: Harvard, Rutgers and North Carolina State. And an additional 30+ years, managing my family’s investment decisions. I currently manage/advise people with net-worths ranging from the tens of thousands to several million dollars.

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