Category Archives: Retirement

One Way to Avoid a Potential White-Knuckle Ride Through Retirement

Have you ever noticed how few people over 60 years old are in line for the roller coasters at a theme park? Have you ever noticed how few people over 60 years old are in line for the roller coasters

Why I Love Annuities, and So Should You

If you need reliable, guaranteed retirement income, annuities can be one of your best options. If you need reliable, guaranteed retirement income, annuities can be one of your best options. SEE ALSO: Income Annuity Basics: What to Know Before You

Four Steps for a Financially Fit New Year

Most people reassess their financial strategies when things aren’t going well. The economy might be faltering, someone in the family has lost a job or experienced a medical issue. Rarely do people make changes when times are good and might

Leverage These 5 Retirement Tax Diversification Strategies

When you’re depending on your savings to do the heavy lifting in retirement, you need to wring out as much income as you can from every dollar of savings. However, if most of your savings are in tax-deferred accounts, you’ll

3 New Money Habits for 2020 (No. 1 Is Forget Budgets!)

After recently completing my second half-marathon race in October, I’m mulling my new fitness goals for 2020. At the very least, I’m considering running the same two races as I did in 2019 with the goal of beating my previous

How Much Can You Contribute to a Roth 401(k) for 2020?

The maximum contribution limit for a Roth 401(k) has been raised for 2020. The "catch-up" contribution limit went up, too. That’s especially good news for workers who have access to Roth 401(k) accounts through their employer and expect to be

How Much Can You Contribute to a Solo 401(k) for 2020?

If you’re self-employed, you can still save for retirement through a 401(k) plan. A solo 401(k) (a.k.a., an individual 401(k) or a one-participant 401(k)) is designed for self-employed people who have no employees other than a spouse. Small-business owners can

How Much Can You Contribute to a SIMPLE IRA for 2020?

A SIMPLE IRA is a retirement plan designed for small businesses with 100 or fewer employees. It’s a cheaper (and easier) plan for an employer to set up when compared to an traditional 401(k); however, the amount a worker can

How Much Can You Contribute to a 403(b) for 2020?

The maximum amount an employee can elect to contribute out of salary to a 403(b) retirement plan for 2020 is $19,500. If you’re 50 or older, you can contribute an additional $6,500 as a "catch-up" contribution for 2020, bringing your

How Much Can You Contribute to a 457 Retirement Plan for 2020?

Employees of state and local governments can stash slightly more money in their 457 plans this year. Plus, the catch-up contribution has increased by $500 this year for those 50 and older. Employees of state and local governments can stash