Plan. Protect. Prosper.
Our last communication discussed many of the changes that were going to occur as a result of the Tax Cuts and Jobs Act of 2017. Fortunately, for many of you this resulted in more take home pay and minimal impacts in other areas of your financial well-being. For those receiving the increase in their take home pay we strongly encourage taking this extra income and contributing it to your company 401(k) or other retirement savings plan. Another change happening in 2018 is for those under 50 years old the maximum 401(k) contribution increased from $18,000 up to $18,500. For those over 50 years old the maximum 401(k) contribution increased from $24,000 up to $24,500.
Tyler Conley has worked in the finance industry since 2009 and joined Spectrum in 2017. He became a CERTIFIED FINANCIAL PLANNER™ practitioner in the fall of 2016.