April 2022

Workers could save more and delay withdrawals under measure passed by House Americans could stash more in their 401(k)s and sit on their nest eggs longer under a House bill that aims to boost individual retirement savings. The bill, passed Tuesday by a vote of 414 to 5, raises contribution limits for older workers, and…

When it comes to planning for retirement, it’s easy to get overwhelmed. Putting together a financial strategy can be complicated at any time of life, what with changing regulations, ups and downs in the market, and disagreements – even among the better-known investment advisers – about the best ways to save and spend money. But…

Retirement is not what you retire from, but what you retire to When you plan for retirement, an exciting new phase of life, double-check your expectations. They may not match the reality. Baby boomers, currently in their 50s and 60s, view retirement differently than the previous generations. Many boomers consider retirement as an opportunity to…

Advice from the Social Security Administration can guide your decision One of the most vexing questions for anyone planning for retirement is: “What’s the best age to start receiving Social Security benefits?” You’ve probably heard that you can begin receiving Social Security benefits at age 62 and that is true. But the benefits are “reduced”…

The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2022 has increased to $20,500, up from $19,500 for 2021 and 2020. From the IRS website: Highlights of Changes for 2022 “The contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government’s Thrift…