Hurricanes Harvey and Irma have brought both windstorm and flood damage to hundreds of thousands of residents. For those who do not have federal flood insurance, their homeowner’s insurance most likely will not cover flood losses to their primary residence. But residents should know there may be another option for assistance: a hardship distribution or loan.
401(k)
When it Comes to Planning Your Financial Future, Don’t Go it Alone.
We live in a high-tech world where information about all topics under the sun is available at your fingertips. We are moving toward self-service and automatic access to everything. I love that I can look at my checking account balance on my phone; I love that I can make dinner reservations with a couple of clicks, and I love that I can confirm a dentist appointment with a one-letter text message response.
While high-tech solutions offer tremendous convenience, some things are still much better when they are high-touch. One of these things is retirement planning and creating a financial plan for the future. (more…)
2017 401(k) & IRA Contribution Limits
As I’ve gotten older (and wiser!), a lesson I learned early in life has really started to influence my financial decision making: the earlier I save, the more time my money has to grow. The concept isn’t overly complicated. Everyone knows the earlier you save, the better. The problem most have–myself included–is following through and putting money away for the future. But now that I’ve had a steady paycheck for a few years and have been focused on saving, I’m able to witness the growth in my account and I’ve got to say…I love watching my money make more money! (more…)
401(k) Contribution limits for 2016
Financial planning is meant to be a year-round activity, but it often gets lost in the everyday shuffle. Like most, my financial planning has historically been done last minute. Once I see the leaves falling off trees and the outside temp starts to drop (or plummet if you’re in Vermont like me), I get the hint that winter is on its way and that means tax season is fast approaching. I always contribute as much as I can to the various retirement accounts that allow me to defer taxation. Every year the IRS mandated 401(k) contribution limits can change, so it’s important to know these limits. (more…)
