401K contribution limits

agentmick's picture

Thom, just listening to you and your statement that annual contributions to 401K plans is limited to $6000.00 is incorrect.  For 2012 the limit is $17,000.00 for people under 50.  For those 50 and older there is a provision allowing an additional $5000.00 per year for a current possible total of $22,000.00 for older people (like me...age 61).  I know you are a stickler for accuracy and thought this should be brought to your attention.  As to Romney and his 100 million 401K...beyond belief and credibility. 

 Thanks for your daily insight and wisdom