The IRS has announced most tax-advantaged contribution limits for 2020. I was waiting to release this post until they announced the Flexible Spending Account (FSA) contribution limits. For some reason, that one was the last to be released.

Being that I’ve started saving for retirement late, I max out all the tax-advantaged accounts I can get my hands on now. That being said, I have an end of the year calendar reminder to notify the accountant who handles payroll at my job to up my contributions accordingly. Each year as the IRS raises the allowable contribution limits, I raise my pre-tax contributions.

This post is to inform you of all tax-advantaged contribution limits for 2020. If I’ve missed any, please feel free to let me know. Additionally, if you are not able to max out any of these accounts, don’t let that intimidate you. Just begin!

I’ve been very excited to begin this interview series, inspiring women in recovery. However, first I had to line up some interviews. If you are a woman in recovery for anything and would like to share your story here on Recovering Women Wealth, please reach out to me. It can be wholly anonymous or not.

Without further ado, here is the story of my good friend, Shari, who tells her story of powerlessness…

Shari’s Story of Redemption

My name is Shari and I am 55 and remarried. I live in Northeast Ohio with my husband of 11 years. I have a 23-year-old son, who by the grace of God, is nothing like I was in my youth. As a child, my mother often expressed her wishes that I would someday have twins, just like me. Thank you, God, this has not happened!

On November 19^th I will celebrate 20 years of continuous uninterrupted sobriety.