4 Essential Steps You Need To Take For A Comfortable Retirement The other day I ordered breakfast from McDonalds, and was so saddened by the woman who took our order. She was a sweet old lady about 85 years of age. “Why is this woman still working?” I thought to myself. Perhaps she was bored [...]
1. Traditional IRA’s are never joint accounts. They are meant only for the individual. 2. There is no minimum age requirement to participate in traditional IRAs. Your children can have a Traditional IRA as long as they have earned income. 3. However, you must be under 70 ½ in order to make contributions to a [...]
401K, 403B, IRA & Roth IRA Maximum Contributions The IRS has determined the 2011 maximum allowable retirement account contributions and nothing much has really changed since 2010. A few of the numbers have budged a tiny little bit but since the Consumer Price Index shows very little official inflation then the adjustments have been kept [...]
Are you a member of the Echo Boomer generation, those born between 1977-1999? There is a growing concern among members of the Echo Boomer generation regarding their future retirement. When planning for retirement, financial advisers typically discuss counting on three sources of income to fund retirement: Private funds such as savings and IRA’s, employer sponsored funds such as Pensions and 401(k)s, and government sponsored funds such as Social Security. While these sources of income provide for the retirement needs of the Baby Boomer generation, they will not support the needs of the Echo Boomers. First of all, most companies no longer offer pensions to their employees.