Posts Tagged ‘Retirement Financial Advisor’

When you turn 50, retirement starts to seem less abstract. In terms of retirement planning, a 50th birthday can act as a wake-up call. It may offer a powerful reminder to trailing-edge baby boomers and Gen Xers, many of whom are wrapping up their second act with inadequate retirement savings for their third. You may…

Good news savers! The IRS announced today new 2015 retirement contribution limits for retirement accounts. Here’s what you need to know: 401(k) The elective deferral (contribution) limit for employees who participate in a 401(k) plan is increased from $17,500 to $18,000. The catch-up contribution limit for employees aged 50 and over who participate in 401(k) plans is…

Do you contribute to a qualified retirement plan at work, such as a 401(k), 403(b) or 457 plan? Does your account have a large balance? If so, you’ll be glad to hear about a new IRS ruling that may give you a nice tax break in the future. At some point in your life, you…

A great idea is hard to dismiss. Congress failed to extend the IRA charitable rollover provision into 2014. That took a terrific charitable gifting option off the table, a potential win-win for both non-profits and wealthy households with large IRAs. The IRA charitable rollover let traditional and Roth IRA owners age 70½ or older gift…

We know that qualified retirement plans and IRAs are prime long-range savings vehicles; we use them to accumulate assets and invest for the future. So why aren’t some of us amassing the retirement nest eggs that we should? Why did retirement account balances decline from 2010-13? Looking at Federal Reserve data, the influential Center for…

When you reach age 70½, the IRS instructs you to start making withdrawals from your Traditional IRA(s). These IRA withdrawals are also called Required Minimum Distributions (RMDs). You will make them annually from now on. If you fail to take your annual RMD or take out less than what is required, the IRS will notice.…

Generalizations about money & retirement linger. Some have been around for decades, and some new clichés have recently joined their ranks. Let’s examine a few of the top retirement myths. “When I’m retired, I won’t really have to invest anymore.” Many people see retirement as an end instead of a beginning – a finish line…

If you have saved and invested consistently for retirement, you may find yourself ready to leave work on your terms – with abundant free time, new opportunities, and wonderful adventures ahead of you. The thing to keep in mind is that the reality of your retirement may not always correspond to your conception of retirement.…

Federal workers and military personnel are offered a supplemental retirement savings plan to complement their pensions – the Thrift Savings Plan, or TSP. Just how well does it measure up to other forms of popular retirement accounts? Picture a 401(k) or 403(b) with five fund choices. In a nutshell, that is what the TSP resembles.…

What kind of retirement do you think you’ll have? An outstanding one? A depressing one? What if it all starts with your outlook? Qualitatively speaking, what if the success or failure of your retirement begins with your perception of retirement? A whole field of study has emerged on the psychology of saving, spending and investing:…