2023 is just around the corner! In this video, I go over updates to the popular retirement accounts (401k, IRA, HSA), the tax brackets and my game plan to capitalize on them in the upcoming year. Enjoy!
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Here's the TL;DR - 401k limits have been raised to $22,500, IRA limits are at $6500 (income limits have gone up too) and HSA limits have risen to $3850 and $7700 for Individual and Family accounts. Soaring inflation has resulted in a 7% increase to tax brackets across the board.
Videos mentioned:
401K - • Best 401K Strategy on H1B/F1 Visa | H...
IRA - • Best Roth IRA Strategy for H1B/F1 Vis...
HSA - • Best Health Savings Account (HSA) Str...
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ABOUT ME:
I want to share stories and lessons learned while first moving to America, planning my journey to financial literacy, and adopting best practices into my life. As an international, it was difficult to find relevant resources to understand the aspects of life that were different in a new country. This channel is a comfortable space to have those discussions and help each other out!
DISCLAIMER:
1. The advice provided in this video is for informational/entertainment purposes only. The creators take no responsibility for any actions or decisions you may take based on the contents of the video. Please consult a professional for strategies related to your specific needs.
2. All the numbers/information are presented as of the video filming date and may change by the time viewers end up watching the video.
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