What are the 2022/2023 Max Retirement Contribution Amounts?

Once again, I am sitting at my desk tonight looking up the max contribution amounts to various types of retirement accounts. As such, I decided to make a post here that I can bookmark. I hope to stop Googling this information over and over again. In time, I shall see if my idea actually saved me time.

Before You Continue: I am not a financial professional. That is to say, I am an individual on the Internet. When it comes to the knowledge below, be sure to verify with your own research or consult with a fiduciary financial advisor.

Retirement or Key Accounts for reference

Retirement Account	2022 Max	2023 Max	Amount Increase
Roth IRA / Traditional IRA	$6,000	$6,500	$500
HSA - Individual (Self-only)	$3,650	$3,850	$200
HSA - Family Coverage	$7,300	$7,750	$450
401(k) Deferral	$20,500	$22,500	$2,000
401(k) Annual Additions	$61,000	$66,000	$5,000
IRA Catch-Up	$1,000	$1,000	$0
HSA Catch-Up (55+)	$1,000	$1,000	$0
401(k) Catch-Up (50+)	$6,500	$7,500	$1,000

Resource Links for Above

To verify the information from the above table or for further details:

• IRS - Retirement Topics - IRA Contribution Limits
• IRS - Amount of Roth IRA Contributions That You Can Make for 2023
• IRS - Amount of Roth IRA Contributions That You Can Make for 2022
• IRS - Rev. Proc. 2021-25 (2022 HSA)
• IRS - Rev. Proc. 2022-24 (2023 HSA)
• IRS - Retirement Topics - 401(k) and Profit-Sharing Plan Contribution Limits
• IRS - Retirement Topics - Catch-Up Contributions

Final Thoughts

The max retirement contribution amount for IRA, HSA (Self), and 401(k) for 2022 is $30,150.
That is $1,256.25 per paycheck if semi-monthly or about $1,159.61 for bi-weekly.

The max retirement contribution amount for IRA, HSA (Self), and 401(k) for 2023 is $32,850.
Or $1,368.57 per paycheck if semi-monthly or about $1,263.46 for bi-weekly.

I see every dollar as buying financial freedom. So, my friend, I believe you should live life in the moment while saving like you will be alive tomorrow.

Thus far in my limited investing life, I have found investments in tax advantaged accounts in broad based index funds to be life changing. I wish you luck in your financial future!

Cheers,
Jeremiah