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​Open an  Index IRA, for your 2023 tax deduction.

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How Much More Can You Contribute to a 401(k) Retirement Account in 2023

A 401(k) plan is a great way to increase your retirement savings. Your employer will deduct your pretax contributions from your paycheck, and your savings will be tax-deferred until you take withdrawals during retirement. (The exception is a Roth 401(k), which is funded with after-tax dollars and from which withdrawals in retirement are tax-free.) Thanks to some recent adjustments by the Internal Revenue Service, your 401(k) will get a bit better in 2023.

Savers are able to contribute as much as $20,500 to a 401(k) plan in 2022, an increase of $1,000 from 2021. Those 50 and older will be able to add another $6,500 — the same catch-up contribution amount as 2021 — for a maximum contribution of $27,000.

In 2023, the contribution limits are even more generous, because those limits are adjusted for inflation each year. Savers will be able to sock away $22,500 a year in 2023; those 50 and above can contribute an additional $7,500, for a total annual contribution of $30,000.

These limits apply to other retirement plans, such as 403(b) plans for employees of public schools and nonprofit organizations, as well as the federal government’s Thrift Savings Plan.

There is an upper limit to the combined amount you and your employer can contribute to defined contribution retirement plans. For those age 49 and under, the limit is $61,000 in 2022; that rises to $66,000 in 2023. For those 50 and older, the limit is $67,500 in 2022; that rises to $73,500 in 2023. You can’t contribute more than your earned income in any year.

Those increases are good news for retirement savers. As pensions become increasingly uncommon, for most workers the proceeds of their retirement savings, plus Social Security, will be their main source of retirement income. According to the Employee Benefit Research Institute, just 1 percent of private-sector employees participated in only a pension plan, also known as a defined benefit plan, in 2018, down from 28 percent in 1979. Just 9 percent participated in both a pension plan and a defined contribution plan, such as a 401(k), and 40 percent participated in a defined contribution plan only. ( From: AARP )

•                       Note: Check with your own CPA or Tax Preparer

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Why choose an annuity?
Annuities provide insurance against the risk that you’ll outlive your money after you retire. They give you the potential to grow your savings and create a guaranteed income stream to last a lifetime.

Looking for a product that can adapt with your   retirement   needs?   Athene  Agility
delivers. 

A single premium fixed indexed deferred annuity is a long-term retirement  savings product  that  can help protect you from outliving your money. It’s a contract between you and an insurance company. In  return  for  your  money,  or  “premium”,  the  insurance company agrees to provide certain benefits.
When you put money into an Athene fixed indexed deferred annuity, you  create something that  can  grow  over the years, and then, at a later  time,  can  pay  you  an income  for a period of time, even for a lifetime.

Athene  Agility  is  a  fixed  indexed  annuity.  It  adapts  to  your  needs  whether  for growth, income or help with the unexpected. It gives you the flexibility, security and confidence to reach for the retirement of your dreams.
Growth potential and protection
You can rely on growth that is protected from stock market risk or losses. While it’s possible to earn zero interest if the market declines, you’ll never earn less than zero. Any interest you earn is “locked in” and can’t be lost to future downturns. You are not directly investing in any index or stocks.
Income
You  can  receive  a  guaranteed “retirement paycheck.” When you’re ready, you can create a stream of income that may grow throughout your retirement years.
Financial flexibility if the unexpected occurs
You have access to your money when you need it most. Plans can change, especially when  the  unexpected  happens.  Athene  Agility’s liquidity and income features can help make sure you’re prepared.
Leave a legacy
Your annuity can offer your loved ones a quick source of funds to settle matters after your death.  Even  when  you  are  taking Lifetime Income Withdrawals, your Benefit Base  may continue  to  grow. Your beneficiary may choose either your annuity’s full Death Benefit in a lump sum or the Benefit Base, paid out equally over the currently declared Rider Death Benefit Payout Period.

Additional Benefits: From $100,000 initial investment, the lncome Value become $135,000 
Athene Agility Income and Death Benefit Rider

Benefit Base Bonus: 35% Bonus
Interest Credit Applied Percentage: 175%
Earnings-Indexed Income Credit Percentage: 100%Annuitant's age at first Lifetime Income Withdrawal: 71 Lifetime Income Withdrawal amount: $17,125.49 (Annually)

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