top of page

2023 Retirement Plan Contribution Limits

Updated: Dec 29, 2022

Contributing the maximum amounts to your retirement and health savings accounts reduces your tax liability. Below are the maximum contributions you can make for the year 2023.

1) For 401(K)s:

a) $22,500 up to age 49

b) $30,000 for ages 50 and up

2) For IRAs:

a) $6,500 up to age 49

b) $7,500 for ages 50 and up

3) For HSAs:

i) $3,850 for self up to age 54

ii) $7,750 for families up to age 54

iii) $4,850 for self for ages 55 and up

iv) $8,750 for families for ages 55 and up

Taxes are your largest annual expense, but effective and consistent tax planning can reduce it significantly. A complimentary call to discuss your tax circumstances and our approach to planning via Calendly will be helpful.

bottom of page