Your Over The Hill Retirement Plan Bonus
Workers over 50 can contribute an extra $5,500 this year to their 401(k), 403(b), 457.
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Workers over 50 can contribute an extra $5,500 this year to their 401(k), 403(b), 457.
Sixty percent of employers offer some sort of retirement plan but only about fifty percent of employees take advantage of the plans offered.
According to the Employee Benefit Research Institute's latest study on borrowing, about 20% of IRA participants have outstanding loans from their plans.
The more money you have the more options you will have in retirement.
A rollover IRA is when you transfer money from a retirement account into an IRA.
Most tax filers are getting a refund after they file their 2012 return. With the average refund running about $3,000, a lot of people will be thinking about what to do with the extra cash.
Congress and the IRS decided that you could not leave your pre-tax retirement savings growing forever tax-deferred, so they chose 70½ for you to begin your mandatory withdrawals.
The number I am looking for is actually 59½!
Age 55 seems to be a magical number; still young enough to travel or start another career.
Congress realized a couple of years back that most workers will not have enough retirement savings set aside for their golden years.
Tax law changes made several years ago put traditional retirement plans on an equal footing.
It sounds so good, borrow from yourself, and pay yourself back! When you do the actual calculations it doesn't work that neatly.
The contribution limits for 2012 for a 401(k), a 403(b) and a 457 plan is $17,000. The limit increases with the rate of inflation.
Your school loan payments won't start until 6 months after graduation and you will be eligible for a deduction on the interest you pay.
A new study from Boston College's Center for Retirement Research found fewer than half of American workers will have enough money to retire at age 65.
In order to retire comfortably, you have to do some planning.
If you are smart enough to start your own business, you should be smart enough to start a retirement plan as well!
A rollover IRA is when you transfer money from a retirement account into an IRA.
Many workers have stopped contributing to their retirement plans.
Retirement planning should start with your first job but it doesn't for most people!
In doing research on Dumb Money Moves I found a great list in a CNN article.
To get a head start on this year's taxes start planning now. Set up a filing system.
WBZ's Dee Lee tells you what you can and can't deduct on your income taxes.
My wife and I both turn 40 this year. We have about $300,000 saved in our retirement plans.
Congress and the IRS decided that you could not leave your pre-tax retirement savings growing forever tax-deferred, so they chose 70½ for you to begin your mandatory withdrawals.
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