2020 401k limit increased to $19,500

[ellipsis]

Increased by $500 from 2019. 

More details:
www.irs.gov/newsroom/401k-contribution-limit-increases-to-19500-for-2020-catch-up-limit-rises-to-6500

[azalea]

Good to know - thanks!

HSA limits went up slightly for 2020: $3,550 for self and $7,100 for family coverage.

[simpsongal]

Sigh....I've never hit it

[Mrs.flang]

Nov 12, 2019 10:27:32 GMT -5 simpsongal said:

Sigh....I've never hit it

Ugh I know! It's been a goal of mine for a while.  At one point I would have been able to, but my company limited contributions to 15% which didn't get me there.  And then this past year I actually reduced my contributions temporarily until we pay off some debt.  Someday...

[Covergirl82]

Mrs.flang , simpsongal , DH and I have never contributed the max. It's a goal of ours someday too, but paying off debt has been a higher priority. Plus kids are expensive.

[ssmjlm]

DH is going to be so close this year, but his OT could skew him above or below. It's basically down to his last paycheck as to whether he'll hit it.

I'm not quite there, but he's older and was behind when we met. Plus I do have a small pension.