Details regarding President Obama’s proposed myRA retirement accounts have begun to dribble out. Here’s what we know about the program so far…
As a followup to my earlier posts on IRA contribution limits and the income limits for traditional IRA deductions… I thought I’d highlight the income limits for making Roth IRA contributions. As you’re likely aware, not everyone can contribute to a Roth IRA. Rather, depending on your modified adjusted gross […]
One of the big reasons that many people contribute to a traditional IRA is for the tax deduction. But not all contributions qualify. How do you know if you’ll be able to deduct your IRA contributions? Simple. Just compare them to the applicable income limits. For 2014, these limits (like […]
Here’s an interesting tidbit from President Obama’s State of the Union address: “[T]omorrow, I will direct the Treasury to create a new way for working Americans to start their own retirement savings: myRA. It’s a new savings bond that encourages folks to build a nest egg. myRA guarantees a decent […]
How do you think your spending will change in retirement? Will it increase? Will it decrease? Or will it stay the same? When it comes to retirement planning, investors are often advised that they’ll most likely spend considerably less in retirement than they do during their working years. After all, […]
Welcome to 2014! I’m not sure about you, but we don’t have any major, life-changing resolutions for the year ahead. That said… We do have some financial goals for the next 12 months. What sort of goals? Since we don’t have any debt, we’re primarily focused on our investment accounts.
As we approach the end of the year, it’s time to start looking ahead. That means it’s time to revisit your retirement plan contributions. According to the IRS, the 2014 contribution limits for 401(k), 403(b), and 457(b) plans will be unchanged in 2014. That means that the stated limit will […]