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Five Retirement Tax Strategies for 2012

IRA 1

1) Contribute the Maximum to Retirement Accounts Although the elective deferral limit for 401(k) and similar plans was increased to $17,000 for 2012, IRA contribution limits remain the same as 2011, at $5,000. IRA owners 50 or older by December 31, 2012 can contribute an extra $1,000 for a total of $6,000 and plan participants […]

Baby Boomers are you Worried about having enough saved for retirement?

Baby boomer

Here’s a simple approach: work just a few years longer. By accumulating more savings and shortening your withdrawal period, you’ll reduce the lump sum needed to generate the necessary income at retirement.  Surveys show that most baby boomers plan to work in some capacity during their retirement years. The question is, should you keep working […]