Archive for Retirement

IRA & 401(k) Contribution Limits 2017

| January 23, 2017 | 0 Comments

Traditional IRA contribution limits are not only limited to a specific dollar amount, but the IRS also limits the deductibility of contributions if the participant and/or spouse have access to a 401(k) plan at work. If you (or your spouse if you are married) do not have a 401(k) plan at work, you can deduct […]

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IRA & 401(k) Contribution Limits 2015

| January 13, 2015 | 0 Comments

Traditional and Roth IRA Contributions For 2015, your total contributions to all of your traditional and Roth IRAs cannot be more than: $5,500 ($6,500 if you are age 50 or older), or your taxable compensation for the year, if your compensation was less than this dollar limit. Roth IRA Contributions Roth IRA contributions are limited based […]

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Dealing with a “Bad” 401(k)

| September 26, 2014 | 0 Comments

Far too many employees consider their companies’ 401(k) plans to be too bad to participate.  This is a mistake.  The most common complaint is that the plan doesn’t match their contributions.  The lack of employer matching contributions does not turn a good 401(k) plan into a plan that should be avoided.  It simply means each […]

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Being a Millionaire has Become a Requirement

| March 26, 2014 | 0 Comments

When I was growing up in the 1970s and 1980s, being a millionaire sounded like a lofty goal, let alone having more than $1,000,000 in investments on top of non-income producing assets like your house, cars, jewelry and art.  These days, I understand that saving $1,000,000 is a minimum requirement for anyone who wants to live a […]

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IRA & 401(k) Contribution Limits 2014

| December 30, 2013 | 0 Comments

IRA Contribution Limits For 2013 and 2014, the maximum you can contribute to all of your traditional and Roth IRAs is the smaller of: $5,500 ($6,500 if you’re age 50 or older), or your taxable compensation for the year The IRA contribution limit does not apply to rollover contributions or qualified reservist repayments. IRA Deduction Limits Your traditional IRA contributions may be […]

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Setting Retirement Goals

| November 20, 2013 | 0 Comments

Setting a monetary goal for retirement is not just about how big your nest egg can be.  The goal should focus on the size of your expenses in relation to your nest egg.  A retiree, let’s call him Henry, can have $2 million set aside, but if he is spending $140,000 a year, his money […]

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What is the 4% Rule?

| October 29, 2013 | 0 Comments

“The 4% rule” (aka the Trinity Study) is a common guideline financial planners and do-it-yourself investors use to project how much they need to save by the time they retire.  The theory behind the 4% rule is simple, but not flawless.  If retirees can expect to earn 6% on a safely allocated retirement account, 2% […]

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Should you participate in a 401(k) plan that doesn’t match?

| February 25, 2013 | 0 Comments

Yes!  Anyone who is not in dire straights with their finances should invest in their 401(k), even if their company does not match a single penny.  The tax savings makes investing in a company’s 401(k) a smart investment decision for almost everyone.  Not only do savers get to put money in their qualified retirement account […]

Filed Under: Retirement