Follow and listen to our podcast

StashLearn
Get the app
Get the app

Join millions of investors on Stash

Investing, simplified

Start today with as little as $5
Get the app
Money News

The Government is Allowing You to Save More For Retirement in 2019

November 08, 2018

The IRS will increase contribution limits for retirement savings.

1 min read

We all want a raise. And the good news is that we’re all getting one—at least when it comes to retirement contributions.

Starting in 2019, The Internal Revenue Service (IRS) increased contribution limits on Individual Retirement Accounts (IRAs) and 401(k)s. The cost of living adjustment is the first contribution limit increase in six years.

Here’s what you need to know:

What it means for you

In a nutshell, the IRS’ decision to increase limits means that you can stash away more for retirement. And if you’re playing catch-up on your retirement savings, the increased limit could amount to some additional savings.

But if you plan to increase your contributions to reach the maximum, you’ll need to take action.

To change your IRA or 401(k) contribution levels, you’ll probably need to manually change your contribution by contacting your account provider. (Remember, a 401(k) is only available through your employer.)

Kick-start your retirement savings

If you don’t have a retirement account, you can sign up for one on Stash.

Make your future money

Learn more about Stash Retire

Start now

By Sam Becker
Sam Becker is Stash's financial writer.

Investment Profile

Bonds Worldwide

An International Bond ETF on Stash

Learn more
Explore more articlesChoose a topic to learn more about
Careers money lessons politics pop culture market news
Disclaimers

This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Stash assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective.

Furthermore, the information presented does not take into consideration commissions, tax implications, or other transactional costs, which may significantly affect the economic consequences of a given strategy or investment decision. This information is not intended as a recommendation to invest in any particular asset class or strategy or as a promise of future performance. There is no guarantee that any investment strategy will work under all market conditions or is suitable for all investors. Each investor should evaluate their ability to invest long term, especially during periods of downturn in the market. Investors should not substitute these materials for professional services, and should seek advice from an independent advisor before acting on any information presented. Before investing, please carefully consider your willingness to take on risk and your financial ability to afford investment losses when deciding how much individual security exposure to have in your investment portfolio.

Past performance does not guarantee future results. There is a potential for loss as well as gain in investing. Stash does not represent in any manner that the circumstances described herein will result in any particular outcome. While the data and analysis Stash uses from third party sources is believed to be reliable, Stash does not guarantee the accuracy of such information. Nothing in this article should be considered as a solicitation or offer, or recommendation, to buy or sell any particular security or investment product or to engage in any investment strategy. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission. Stash does not provide personalized financial planning to investors, such as estate, tax, or retirement planning. Investment advisory services are only provided to investors who become Stash Clients pursuant to a written Advisory Agreement. For more information please visit www.stashinvest.com/disclosures.