IRS Releases NEW 2025 401K, IRA, and HSA Limits. What You Need To Know

[@LucasBenjamin-hv7sk]

I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.

[@Franklin-gq4si]

consider financial advisory so you don’t keep switching it up... those sound like great picks anyways, not bad for $350k.

[@williamDonaldson432]

Agreed, I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has 5X in barely 4 years, summing up nearly $1m as of today.

[@foreverlaura-fq4eu]

@@williamDonaldson432 this is huge! would you mind revealing info of your advisor here please? in dire need of portfolio rebalancing

[@williamDonaldson432]

I take guidance from an advisor Rebecca Lynne Buie To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@CharlesArthur-fq5sx]

Thanks for putting this out, curiously inputted Rebecca on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise.

[@kortyEdna825]

I opened an ROTH IRA at the age of 27 and put the maximum amount possible for 2024. I feel foolish for letting my life fall into order so slowly. The issue at hand is how to invest the funds most profitably in order to save for retirement

[@NoorJari406]

You're 27 years old. It is alright. The compound interest period has begun. To build a strong foundation and reduce risk while maximizing gain, I think all investors should begin with ETFs. From there, they should diversify across a range of asset classes and continue to invest consistently and systematically

[@carssimplified2195]

You do not need to locate the next NVIDIA to be successful in investing. Simply choose top tier ETFs and work with a financial counselor, as I did. I turned $90,000 into $53,000 in annual dividends, which is a huge accomplishment for me today

[@PatrickFitzgerald-cx6io]

Impressive! I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well

[@carssimplified2195]

''Aileen Gertrude Tippy'' is the licensed advisor I use. Just research the name online you will find necessary details to work with to set up an appointment

[@PatrickFitzgerald-cx6io]

Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her

[@LizaPhilips]

Biggest financial mistake I ever made was with my 401k. My company had a Roth 401k when my kids were in college, but I didn't actually start contributing until year 3 of the 6 years I had kids in college. Because I was helping them with expenses, I was entitled to the tax credits, so my effective tax rate was extremely low. That is the time you NEED to be in a roth! i still retired with about $350k in my 401k.

[@scottarmstrong11]

People don't really know this, You need to create your own process, manage risk and stick to the plan, through thick or thin while also continuously learning from mistakes and improving.

[@frankbarnes22]

I totally agree; I am 66 years old, recently retired, with approximately $1.2 million in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, I didn't do all this alone, but with the help of a financial advisor. Having one is currently the best way to trade in the stock market, especially for people nearing retirement.

[@Johnlarry12]

This is exactly how i wish to get my finances coordinated ahead or retirement. Can you recommend the financial advisor you used to get ahead?

[@frankbarnes22]

My CFA is Carol Vivian Constable , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@Johnlarry12]

I’ve just looked up her full name on my browser and found her webpage, very much appreciate this

[@AnshMeta-j7r]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[@SteveKalfman-yv7co]

These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If you’re not ready for it, you should’t be in the market business. or get you a skilled practitioner.

[@SallyW414]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors' and hear-says, it got the best of me in the year 2020 and had me holding worthless positions in the market. I had to revamp my entire portfolio through the aid of my financial advisor, before I started seeing any significant results happens in my portfolio. Been using the same advisor since then and I’ve scaled up almost a million within 2 years. Whether a bullish or down market, both makes for good profit, it all depends on where you’re looking…

[@SolimaBureko]

Not bad at all. I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market. Could this coach that guides you help?

[@SallyW414]

Finding financial advisors like Vivian Jean Wilhelm who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@SolimaBureko]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@samc1056]

Such a well made video, clear and precise. Thank you!

[@oSnapMillerTime]

Increased limits lol no increased money to put in.

[@miles2fast]

😂

[@Noname-ps3mq]

Yes you will get a raise in 6 to 12 months when gas, electricity, and food prices start to come down Instant 10k to 15k dollar raise Problem is cost of goods and services they are insane Trump 2024

[@oSnapMillerTime]

@Noname-ps3mq energy might come down but food won't. The damage that these pricks did over the past 4 years is incredible. Both with the economy and the mental illness to the masses they caused.

[@dec1slh]

​@@Noname-ps3mqyou believe prices will come down like that?

[@FreakyLynx]

Sadly I think is going to be the story for most.

[@melaniemaynard6994]

I've just learned so much so quickly and easily! Cheers!! Thank you 💪👏🏼

[@MARSHMALLOWwhimsy]

Crash or no crash, when everything is pushing ATH, it's time to start trimming some of the fat and increase dry powder. looking at the growth projections of 7-figure portfolio I can't tell where the market is headed, Do i hold on or perhaps I should just sell off assets and avoid the panic?

[@PhoenixReborn-v6v]

Don't sell everything, just raise some cash so you can go shopping if and when a correction or crash takes place.

[@MakeamericaGreatagain-h7j]

Such uncertainties are the reasons I don’t base my judgement on a ''heresay'' , 2020 had me holding trash stocks, but thankfully revamp my portfolio through the aid of a pro before seeing significant gains. To date, I've scaled up nearly 320% ROI. it's been 4 years and counting. I and my advisor are working on a 7 figure ballpark goal and we're not far.

[@Damncars456]

Your advisor must be really good. How I can get in touch? My portfolio's decline is a concern, and I could use some guidance.

[@MakeamericaGreatagain-h7j]

I've stuck with ‘’Sophia Irene Powell” for years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@Tsunaniis-j5l]

I just checked Sophia Irene Powell website, and I’m even more impressed! The range of financial strategies and resources she offers is amazing. I can see why so many people trust her with their investments-looking forward to working together!

[@whatsitlike6392]

If income limits were my problem... More like limited income is my problem...

[@leonidlukashevsky6487]

Same....

[@noblexavierrossom]

You might have a spending problem not a income problem. Change your mindset!

[@FreakyLynx]

Yours is a common story, same for me as well.

[@dlg5485]

It's very disappointing that there was no increase in Roth contribution limits, which goes to show that the gov't understands very well which account has the most value from a tax saving perspective and they want to limit that advantage. I wouldn't be surprised if Roth limits remain stagnant for quite some time, as they prefer tax deferred accounts since they will be able to tax that bucket of money eventually, via RMDs or after death. In any case, I utilize 403b, Roth, HSA and brokerage accts because I want to have maximum income flexibility and tax efficiency in retirement.

[@emmanuelemman7699]

is the 403b roth or just traditional

[@dlg5485]

@@emmanuelemman7699 A 403b is exactly the same as a 401k, but for non-profit employers (schools/universities, hospitals, etc). However, some of these plans do offer a Roth component within them, but I opened my Roth independently to unlock more investment options.

[@FreakyLynx]

The government put out fake inflation data so increasing the IRA by $500 this year would “exceed” the inflation they’ve reported… so allowing a higher contribution limit would conflict with their other lies.

[@dondyer99]

Look at a Max Funded… Index Universal Life.. High Contrbution Limits. The fees you would normally pay…to manage your fund… pays for a Life Insurance element. Tie the money to a market index return WITHOUT BEING IN MARKET.. IF THE MARKET TANKS You do not lose.

[@dlg5485]

@@emmanuelemman7699 It depends on your employer's plan. Some 401k/403b plans offer a Roth option and others don't. I recommend opening your own Roth independent of your employer plan. I contribute to a Roth and a brokerage account independently, separate from my employer sponsored plan.

[@DonaldMark-ne7se]

THANKS. Just what I needed to watch. My wife and I are administrators of our farming business and our own properties, as well as small pensions. I am almost 56, my Wife is 52. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn passive income online and retire comfortably let's say 1 million bucks.

[@JacquelinePerrira]

It's recommended to save at least 15% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of compound interest and potentially grow your retirement savings over time.

[@Jamessmith-12]

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

[@kevinmarten]

I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.

[@JacquelinePerrira]

This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?

[@kevinmarten]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@eagleschic4926]

Thank you for your content. New sub. Shared.

[@jbadamhagenston9551]

These are great videos! Were there any limit changes for SIMPLE IRAs in 2025?

[@mmhodler5753]

thanks for this updated information

[@Riggsnic_co]

With Roth IRA, the money you are contributing has already been taxed. At any time for any reason, you can withdraw your contributions tax-free and penalty-free. Additionally, any earnings on investments can also be withdrawn tax-free and penalty-free, Not sure how much to contribute, I'm still at a crossroads deciding if to liquidate my $338k stock portfolio.

[@kevinmarten]

For the average person, the strategies are fairly demanding. In actuality, most professionals who have the necessary abilities and knowledge to complete such occupations do so successfully.

[@JacquelinePerrira]

Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for awhile now mostly and I made over $800K within a short time

[@Jamessmith-12]

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?

[@JacquelinePerrira]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@Jamessmith-12]

She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.

[@shoelady6457]

Informative 😊

[@Retiredmco]

HSA 5300$ including 55 plus catch up

[@Thesakuraharona]

Roth ira is priority to me, then my 401k. Some would argue that I am wrong, but I prefer to limit my taxes later in life.

[@FreakyLynx]

Don’t forget that a traditional 401k lowers your taxable income, so the money you save could be used elsewhere. And also worth repeating that you should contribute to the 401k at least to an employer match. That match represents a 100% increase on that money, very hard to beat that anywhere.

[@aftabkrishna7274]

What is the contribution limit for Solo 401k plan for age above 50?

[@wayfinder81]

This was great, thank you so much for sharing this. When you were talking about Traditional IRA and said 'once income exceeds...", does this mean for the year? As in, once you hit 89k for that year's earnings (out of the total compensation you'd earn, ex. you make 110k) then any contribution after you've earned 89k for the year receives no tax deduction? Or is it based on yearly salary that is reported and so your overall income? Sorry if this is a dumb question, I'm trying.

[@cp297421]

So this 1k emergency withdraw. Would contributions be counted towards repayment of that 1k. Have never taken a withdrawal before… or could you have them make the payments back for the withdrawal as an Auto repayment like the loans? Just thinking about for future possibility.

[@scottmcclure4153]

You the man . Thank you . I do have some? For you.

[@danielhall941]

I’m don’t contributing to a 401k since my employer offers a Roth 401k which can roll into the Roth IRA.

[@Peteliao]

For the Roth IRA, my income at work is 133k a year, but I have rental homes that I earn additional 250k a year. Am i no longer eligible for the Roth IRA?

[@serious_as_a_heart_attack]

Probably not...but if you actually end up with that much profit on your rentals you might be able to call it a business you get self employment income from and start a SEP/SIMPLE plan to invest in...

[@johnstouchpad6437]

You kept saying Over 55, or over 50, it the year you turn that age.

[@icequeenspits]

I've just gotten married and my husband has mostly "unearned" income whereas I have typical W2 "earned income." What savings plans should we be using since unearned income has restrictions.

[@serious_as_a_heart_attack]

If you are married and file taxes jointly then it's joint income you can both do whatever you qualify for for IRAs, etc.. If your earned income is enough but not too much you can both deduct traditional IRAs, for example but talk to your tax advisor.

[@chopinsally2413]

Can I make my 2025 HSA contributions in Dec 2024?

[@peters972]

The hsa expires every year though right? Isn’t it use or lose?

[@peters972]

@@ThatGuy-ds9zi where would I see my balance then? Does my plan maybe sweep up the remainder for itself? Are you kidding?

[@ThatGuy-ds9zi]

@@peters972 depends on who does your HSA. I run mine through Fidelity so I can just open my app and look. If yours is through work check with your HR department. Hopefully they're investing it. You can put money into the HSA but once it's in the account you have to go in and invest it or it just sits there like a savings account. Who do you have an HSA through? Do you get statements mailed to you?

[@chandlerjones8645]

FSA is probably what you're thinking of. HSA different. Lots of quick articles if you look up FSA vs HSA

[@peters972]

@ yes it was! Thank you

[@mkhatame86]

Still I can contribute to Backdoor Roth in 2025, correct?

[@pf1971]

Question, I started a HSA for when I retire. My company do have 1, but there high deductible doesn't show how much the deductible is, plus my doctor wasn't covered. I'm paying into this plan after taxes. Do I still get the same kind of tax breaks?

[@mvue1794]

I am not CPA, but here is what I know. 1. HSA are High deductible health plans only. 2. HSA limits contribution for 2024 is 4150 single filters and 8300 for family. This will lower your tax liability when filing, and you have until 4/15 to contribute. There are no statutes of limitations for medical claims. 3. You must invest what u contribute otherwise the money can not grow. 4. Use the HSA as an investment vehicle and not medical plans. 5. Ur company have a vendor that they put funds into but u can move funds out to ur own brokage so u have control to invest and grow it.

[@pf1971]

@mvue1794 thank you, I will look into further to make sure I'm doing this correctly.

[@serious_as_a_heart_attack]

Beware 'high deductible' doesn't always mean HSA eligible...lots of health plans have high deductibles just like auto insurance but it still has to meet other criteria to qualify so be sure to ask your hr or insurance company if that specific plan qualifies for HSA. If not you are not eligible to contribute to one.

[@user-bg9em7ch6k]

@@mvue1794 and if you’re 55 or older you can put an additional $1,000 into the HSA each year.

[@jameslowry3208]

I currently do not have access to a 401k through my employer but I do have a small amount from previous employer as a roth 401k. I also have a traditional roth that i contribute max allowance to. My advisor told me I can no longer contribute anything to my 401k acct. Can I not contribute my money post tax to my 401k as well as maxing out traditional roth?

[@FreakyLynx]

There’s a channel called The Money Guy who I believe made a couple videos on your question

[@jameslowry3208]

@FreakyLynx ty for response

[@caseyloomis2168]

I have an HSA and I live in California. While HSAs have a triple tax advantage federally, as I understand it; California taxes the account as normal. Can you confirm this?

[@adamgunner8008]

Any interest or earnings on the assets in the HSA are tax-free while held in the account. You can receive tax-free distributions from your HSA, including distributions of interest or earnings, to either pay or be reimbursed for qualified medical expenses you incur after you establish the HSA

[@caseyloomis2168]

@@adamgunner8008 Thank you for your reply. Are dividends in an HSA taxed in California? Also, I found this online and wondered if it were true: "Employer contributions made to your HSA are required to be treated as taxable income in California and therefore will be reported as imputed income for state tax purposes."

[@Shlumpe1]

Question, Im 19. I wanna start investing in Index funds and dividends. I want to withdraw my money by the time I'm 50, I don't want to wait until I'm 59 1/2 to withdraw. Should I open a brokerage account or roth ira?

[@serious_as_a_heart_attack]

I would ask why you want to withdraw by age 50 and are you talking about the entire amount or just retiring and taking yearly living expenses? You might be wise to have some in both kinds of accounts but not enough information here to know...

[@FreakyLynx]

If you’re willing to work until you’re 55 you can access the 401k of that employer you’re retiring early from and it’ll be penalty free.

[@sewmeonekenobi639]

How do I get my employer to match my emergency fund?

[@anthonyh2884]

$1,000 emergency withdrawal that must be repaid!! 👎🏽😂

[@dondyer99]

Sherman.. Excellent content. You are able to communicate clearly and concise. What are your thoughts on a properly Funded Index Univesal Life? Has all the benefits of a Roth IRA… plus greater contribution limits. Index investing without being in the market. A zero loss floor if the results tank. Contract allows money to be used for Long Term Care. And if you die your account blossomes to a greater value Tax Free also. There is a thought that tax rates are going to double???.. More reason to get 50% to 60% of retirement savings into a tax Free withdrawal.

[@Zarphirebabe]

More info for SEP IRA

[@germainecowan670]

I'm retired how do this help me 😢they already taxed my retirement

[@hwgmafia7375]

Is it good to get a 401k loan?

[@GermanShepherdDaphne]

Thank god Trump got in! Or else higher taxes

[@mosijahi3096]

What relevance does Trump have to this?

[@leonidlukashevsky6487]

Yes❤🎉thanks god

[@FreakyLynx]

@mosijahi3096 for starters he’s not the candidate who was pushing an unrealized gains tax… which depending on how far it went, could kill retirement plans.

[@msmj9102]

These were approved by the Biden administration.

[@guirlandedelva3240]

Misleading 😢where is the new contribution limit? Did you mislead for views ? UNSUBSCRIBE

[@mycpacoach]

Did you watch the full video?

[@lockiet7227]

@@mycpacoachdon’t bother. Ppl rather be misinformed and act based on emotions and political propaganda. If the world makes sense and people are smart your channel would be much much more popular

[@dukedavis736]

Did you watch this video or something else on MSNBC?

[@andrecrider8603]

70k limit you and employer combined