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…)

Read More  

401k WP2

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…)

Read More