top of page

Financial Planning Items to Start 2022

  • LVM Capital
  • Jan 17, 2022
  • 1 min read



Jordan and Chuck discuss planning items for the upcoming year. We review updated retirement contribution levels and different planning strategies you can implement to save on taxes.


2022 401(k) contribution limits are:

  • Workers who are younger than age 50 can contribute a maximum of $20,500 to a 401(k) in 2022. That's up $1,000 from the limit of $19,500 in 2021. If you're age 50 and older, you can add an extra $6,500 per year in "catch-up" contributions, bringing your total 401(k) contributions for 2022 to $27,000.

Traditional IRA income phase-out ranges for 2022 are:

  • $68,000 to $78,000 - Single taxpayers covered by a workplace retirement plan

  • $109,000 to $129,000 - Married couples filing jointly. This applies when the spouse making the IRA contribution is covered by a workplace retirement plan.

  • $204,000 to $214,000 - A taxpayer not covered by a workplace retirement plan married to someone who's covered.

  • $0 to $10,000 – Married filing a separate return. This applies to taxpayers covered by a workplace retirement plan

Roth IRA contributions income phase-out ranges for 2022 are:

  • $129,000 to $144,000 - Single taxpayers and heads of household

  • $204,000 to $214,000- Married, filing jointly

  • $0 to $10,000 - Married, filing separately

Recent Posts

See All
College Planning Basics

Tyler and Chuck sit down to discuss College planning. The discussion begins with having the end in mind by knowing the current costs of...

 
 
 

Comentarios


Sign up to receive our newsletters and podcasts.

SUBSCRIBE >>

LVM LOGO no tag.png

P 800.488.2036   |    F 877.321.8126
7840 Moorsbridge Road, Portage, Michigan 49024

999 Vanderbilt Beach Road, Suite 200, Naples, Florida 34108

ALL CONTENT © 2025 LVM CAPITAL MANAGEMENT LTD   |   ADV    Form CRS

LVM Capital Management is a fee-only wealth management firm

As a Registered Investment Advisor (RIA), LVM adheres to the Fiduciary Oath, placing clients' interests first.

 

bottom of page