It has been a wild and unpredictable first quarter. After reaching highs in late January, equities then tumbled 10%. As quickly as they went down, they appeared to be reversing themselves, and there was the talk of a "V" shape recovery. That soon faded as the market woke to concerns of trade-tariffs sending us back to February lows:
A friend brought this New York Times article to my attention: Court Overturns Obama-Era Rule on Retirement Planners. Sadly, and not for selfish reasons, I couldn't believe it.
If you're curious how the proposed tax plan effects you, the Wall Street Journal, using the Penn Wharton Budget Model, has introduced a tax calculator. Here you can calculate your estimated 2018 taxes and discover the potential impact of the House plan.
IRS announces updated retirement plan limits for 2018
On October 19, 2017, the IRS announced the updated retirement plan limits for 2018. Importantly, 401(k) and SEP IRA contribution limits increase. Traditional IRA and ROTH contributions are unchanged. Below, see highlights for notable DC plan limits: