The IRS has announced the retirement plan limits for 2019. Here’s what you need to know. (more…)
Roth IRA
There’s Still Time to Contribute to Your 2016 IRA
Every year as the calendar changes, you start seeing more and more commercials from tax preparation companies reminding you to get your taxes in order. As you gather all the pertinent information for your tax planning (W-2 income statement, medical expenses, mortgage info, etc.), don’t forget you can still make IRA contributions that count for the 2016 tax year. (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…)
