2022 contribution limits are finally out! Like most money nerds, Mindy is very excited about the newest increase to retirement account contribution maximums! This is a huge benefit to anyone chasing financial independence as now you’ll be able to invest, and earn, more through tax-deferred and tax-advantaged retirement accounts like the 401k, Roth IRA, 403b, and not-really-retirement-plan HSA.

While most accounts saw some form of an increase over 2021, Roth IRAs, unfortunately, did not see any contribution increase. This isn’t unexpected as Roth IRAs are one of the best tax-advantaged retirement accounts around and already give huge tax benefits to those who fully take advantage of them.

If you’ve already set your contribution maximums for the year, make sure that you re-adjust them for these updated contribution limits. This will help you maximize retirement savings in the future and could help you deduct more from your taxes.

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Check out Last Week’s Episode on Giving Your Children an 800+ Credit Score:
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Want to Hear More from Mindy? Listen to The BiggerPockets Money Podcast:
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Introducing the Solo 401k: The Perfect Retirement Account for Investors:
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00:00 Retirement Contributions!
00:36 Tax-Deferred Retirement Plans (401k, 403b, 457, TSP)
01:21 Roth IRAs
01:57 HSAs (Health Savings Accounts)

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