7/17 - Catch Up Contributions

Currently, if you are age 50 or older and you contribute to a 401k, you are allowed to make a “catch up” contribution in the amount of $7,500, pre tax regardless of your income. Well, thanks to Congress, that rule is going to change dramatically starting January 1st, 2024 if you make more than $145,000 this year. And the change is unfortunately, not good. We’ll share with you the details, tonight on the Jon Sanchez Show at 5pm.👉 Watch this episode on YouTube: www.youtube.com/@thejonsanchezshow👉 To learn more about retirement planning and wealth management in Reno, visit: sanchezgaunt.com Compliance Disclosure: This program is for informational purposes only and should not be considered investment, tax, or legal advice. The views expressed are those of the participants and may not reflect the views of Sanchez Gaunt Capital Management. Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Always consult with a qualified financial professional regarding your individual situation before making financial decisions.