Today starts a national campaign for Americans to save more money.
It’s time to dig out those receipts for last year’s charitable contributions.
Congress and the IRS decided that you cannot leave your pre-tax retirement savings growing forever tax-deferred, so they chose 70½ for you to begin mandatory withdrawals.
At 59½ you can finally get at those dollars you have been stashing away for years in your retirement plans without paying a 10% penalty.
Age 55 seems to be a magical number…but very few individuals can realize an early retirement.
Many birthdays are key to successful retirement planning…and as these birthdays creep up, you need to do some planning.
We want to save more. It’s at the top of most consumers New Year’s resolution list. So what holds us back?
The average 401(k) balance came in at $80,600 at the end of the second quarter of this year (2013) according to a report released by Fidelity, which represents 12.4 million U.S. workers.
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.