At Winthrop, we help our clients live life in the moment while boldly exploring and imagining possibilities for their future. Our approach enables us to explore every aspect of your life so that we can design a big-picture plan and investment solutions that balance practicality with opportunity.
Whoever you are, and wherever you are on your journey, our multi-generational team has all the tools and experience to help you pursue your financial goals—and live your life to the fullest.
From fast-growing startups and closely held family businesses to multi-generational enterprises, we will help empower you to operate more efficiently day-to-day, while laying a foundation for navigating the future.
We work closely and collaboratively with our endowment and non-profit clients to provide investment programs and hands-on portfolio management services pursuing global opportunities while seeking to ensure alignment with key business objectives.
We’re committed to seeking out and sharing the trends influencing markets and the outlooks that might inform our investment approach. In an industry like ours, being open to multiple viewpoints and fresh perspectives is a critical part of how we add value, and help our clients imagine all the possibilities.
In the world of finance, things change fast and there’s always more to learn. We’ve created a series of tools that will help you stay educated and keep you informed about the things that matter most.
Updates | December 13, 2019
2020 contribution limits for your 401(k), 403(b), or a 457 plan have increased from $19,000 to $19,500. Additionally, if you are age 50 or older, you are eligible for a “catch-up” contribution which has increased from $6,000 to $6,500 a year.
2020 contribution limits for an IRA or Roth IRA have stayed unchanged at $6,000, plus a $1,000 catch-up contribution for individuals over age 50. Contributions to an IRA can be tax deductible if you do not have a qualified plan, regardless of your adjusted gross income. However, if you (or your spouse) are eligible for a qualified plan, your contribution may be deductible based on the following Adjusted Gross Income (AGI) amounts:
Traditional IRA 2020 AGI Limits:·
Roth IRA 2020 AGI limits:·
Healthcare Savings Accounts (HSA):
If you have a high-deductible health insurance plan, you are eligible to contribute to an HSA. For 2020, a single taxpayer can contribute $3,550 and family coverage is $7,100. In addition, there is a catch-up contribution of $1,000 for anyone who is age 55 or older.
For 2020, the estate tax exclusion amount will increase to $11,580,000. However, the calendar gift tax exclusion remains at $15,000. The present interest gift to a spouse who is not a U.S. citizen will increase to $157,000.
Please do not hesitate to call us with any questions you may have. Wishing you all a happy and safe holiday season!
The Winthrop Wealth Team
Securities offered through LPL Financial. Member FINRA/SIPC. Investment Advice offered through Winthrop Wealth Management, a Registered Investment Advisor and separate entity from LPL Financial.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.