You can build your nest egg faster by maxing out how much you stash in your retirement accounts. Here are the contribution limits for 2016:
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| Contribution Limits | ||
|---|---|---|
| Row 0 - Cell 0 | 2015 | 2016 |
| 401(k), 403(b), 457, Thrift Savings Plan contributions (not including employer contributions) | $18,000 | $18,000 |
| 401(k), 403(b), 457, Thrift Savings Plan catch-up contributions (for workers 50+) | $6,000 | $6,000 |
| IRA and Roth IRA contributions | $5,500 | $5,500 |
| IRA and Roth IRA catch-up contributions (for workers 50+) | $1,000 | $1,000 |
| Solo 401(k) | $53,000 | $53,000 |
| Solo 401(k) catch-up contributions (for workers 50+) | $6,000 | $6,000 |
| Simplified Employee Pension | $53,000 | $53,000 |
| Income Limits | ||
|---|---|---|
| Row 0 - Cell 0 | 2015 | 2016 |
| Roth IRA, married filing jointly | $193,000 | $194,000 |
| Roth IRA, singles | $131,000 | $132,000 |
| Retirement savers' credit, married filing jointly | $61,000 | $61,500 |
| Retirement savers' credit, head of household | $45,750 | $46,125 |
| Retirement savers' credit, single or married filing separately | $30,500 | $30,700 |
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