It was so good to see so many of you at our fifth annual Planning for Prosperity in Orlando last month. The connections and networking were better than ever, and according to our exit surveys over 80% will be coming back next year. It’s all done for you, the best IRA investors ever – and as such, please let me know any speaker that you have heard that you will want to hear in our 2019 edition.
A bit of good news for those that are contributing to their retirement plans. Next year the limits for Traditional and Roth IRAs bump up by $500 to $6,000 with the over age fifty bonus staying at $1000. The Simple IRA contribution increases by $500 as well, and the popular solo 401k or QRP maximums increase by $1000 to $56,000, plus $6000 for those over age 50.
It’s a great time of year to also take a hard look at any non-Roth retirement plan, to see if you should be converting those funds to a Roth IRA or post tax designation in your 401k. Talk to your CPA or tax advisor and we will be glad to handle the paperwork on our end. Remember, it is always better to pay the tax on the seed (investment) than on the harvest, and with a Roth IRA, once you initially pay the tax, it may be the last tax payment ever, for you as well as your beneficiary.
Oh, I almost forgot – thanks to many of you that made our “Chair the Love” charity event so successful. The generosity of our friends was amazing as we raised over $70,000 which will provide almost 500 wheelchairs to people who cannot afford them, both in the US and overseas. If you want to get involved in this wonderful work, visit www.chairthelove.org for more information.