WATCH WEALTHTRACK

RECENT EPISODES

• BENZ: UNMET LONG-TERM NEED

  UNMET LONG-TERM NEED

  In her role as Morningstar’s Director of Personal Finance Christine Benz tackles the major problems facing retirees. One of the biggest is the cost of long-term health care.
  

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• MORNINGSTAR’S PERSONAL FINANCE GURU, CHRISTINE BENZ TAKES US THROUGH AN ANNUAL FINANCIAL WELLNESS CHECKUP

  How fit is your retirement plan? Personal finance guru Christine Benz takes us through a financial wellness checkup.

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• TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLAN

  TAKE FULL ADVANTAGE OF TAX DEFERRED SAVINGS PLANS

  2019 ALLOWED CONTRIBUTIONS RISING

  401(k) OR SIMILAR WORKPLACE RETIREMENT PLAN:
  • $19,000 for under age 50
  • $6000 catch-up contribution for age 50 or older remains the same
  INDIVIDUAL RETIREMENT ACCOUNTS – I.R.A.’s:
  • $6000 for under age 50
  • $7000 for age 50 or older
  • HEALTH SAVINGS ACCOUNTS – H.S.A.’s:

   

  • $3500 for under age 55

   

  $1000 catch-up contribution for age 55 or older remains the same
  HEALTH SAVINGS ACCOUNTS = TRIPLE TAX BENEFIT
  • tax-free contribution
  • tax=free growth
  • tax-free withdrawals

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  Watch the related WEALTHTRACK episode.
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