The IRS has increased retirement savings limits for 2026 and this is a big opportunity to build long-term, tax-advantaged wealth.
Here’s what you need to know:
- 401(k) Contributions Limits Increased – You can now contribute up to $24,500, up from $23,500.
- Bigger Catch-Up Contributions (Age 50+) – If you’re 50 or older, you can contribute an additional $8,000, for a total of $32,500.
- New “Super Catch-Up” Window – For a limited time, individuals ages 60-63 can contribute up to $35,750 total. This is a unique opportunity. Don’t miss it.
- IRA Contributions Limits Increased – You can now contribute $7,500 to an IRA. If you’re 50 or older, that increases to $8,600.
Now is a great time to review your retirement strategy.
Make sure you’re taking full advantage of these changes.
Remember, tax laws are complex and vary based on individual circumstances.
These strategies are general in nature and not a substitute for professional tax advice. Before implementing these strategies, it’s best to consult with a financial advisor and tax professional to ensure that they align with your specific financial situation.
Please reach out to your Brown CPA Group professional team with any questions at (847)509-4100.