Now that it’s fairly common for families to have two wage earners, many husbands and wives are accumulating assets in separate employer-sponsored retirement accounts. In 2018, the maximum employee contribution to a 401(k) or 403(b) plan is $18,500 ($24,500 for
Quiz: Can You Answer These Social Security Benefit Questions?
Most people will receive Social Security benefits at some point in their lifetimes, but how much do you know about this important source of income? Take this quiz to learn more. Questions 1. Can you receive retirement and disability benefits
There’s Still Time to Contribute to an IRA for 2017
There’s still time to make a regular IRA contribution for 2017! You have until your tax return due date (not including extensions) to contribute up to $5,500 for 2017 ($6,500 if you were age 50 by December 31, 2017). For
Social Security and Medicare Trustees Reports: Financial Challenges Continue
Social Security and Medicare Trustees Reports: Financial Challenges Continue Every year, the Trustees of the Social Security and Medicare Trust Funds release reports to Congress on the current financial condition and projected financial outlook of these programs. The newest reports,
Four Financial Issues to Watch Under the New Administration
On January 20, 2017, Donald J. Trump will be sworn in as the 45th president of the United States. Between now and then, attention should largely focus on efforts to facilitate an orderly transfer of power, but there will be
How Much Annual Retirement Income Will You Need?
How much annual income will you need in retirement? If you aren’t able to answer this question, you’re not ready to make a decision about retiring. And, if it’s been more than a year since you’ve thought about it, it’s
Are You Ready to Retire?
The question is actually more complicated than it first appears, because it demands consideration on two levels. First, there’s the emotional component: Are you ready to enter a new phase of life? Do you have a plan for what you
Medicare Open Enrollment Begins October 15
What is the Medicare open enrollment period? The Medicare open enrollment period is the time during which people with Medicare can make new choices and pick plans that work best for them. Each year, Medicare plans typically change what they
10 Years and Counting: Points to Consider as You Approach Retirement
If you’re a decade or so away from retirement, you’ve probably spent at least some time thinking about this major life change. How will you manage the transition? Will you travel, take up a new sport or hobby, or spend
Qualified Longevity Annuity: Income Protection for a Long Life
As life expectancies increase, longevity risk–the risk of outliving retirement savings–is a concern for a growing number of people. In response, recent federal regulations created qualified longevity annuity contracts (QLACs), which are accessible through employer-sponsored plans, such as 401(k)s and