Yesterday, the IRS announced that the 401(k) contribution limit is staying put at $18,000. Earlier, they released that the IRA limit isn’t changing either. The 2017 limits are set.
I found out when my co-worker sent out an email (she works with benefits) alerting us. She threw in the offhand comment, “like that will ever happen” along with the new limits. I got a good chuckle from that.
I’m right here! Can’t you feel the savings?
Maggie could feel it.
After the chuckle, the reality of an unchanged goal amount started to sink in. The only emotion that came through was… Oh thank God!
It wasn’t until this point that I realized that I might be pushing too much to save.
I was striving to pay off my loans.
I immediately transitioned to plowing all that cash into saving for a house.
While doing that, I reach reach reached to get to Super Max.
For our little family, 2 401ks and 2 IRAs has been a lot to contribute so soon. Today, we are set to reach that. We have been for a few months.*
I’m so proud of us that we’ve gone from buckets of debt to Super Max in 3 years. Now that we’re maxing, I want to continue to max from now until forever more.
Having just reached this accomplishment, the thought of having to reach just a little bit further to a higher max as soon as January was an obstacle I was not ready to conquer just yet.
I want to settle in to our cash flow and I’m thankful that we’ll be able to do that.
* Due to Hubs’ late start to maxing this year, his per check contribution is more than what he’ll need to max, but he won’t max this year. Next year 🙂