Retirement Fun Facts and a Dose of Reality
Retirement Fun Facts and a Dose of Reality Straight from the CBO – Congressional Budget Office - their recent annual report details the fiscal state of our country – and no surprise - things are far from good. Here are the main parts of the report from the CBO that are concerning to those that are in or nearing retirement: Out of control spending Mountains of debt The interest on our debt Social Security’s unsustainable path Higher government expenses on healthcare Structu
The 2017 IRA Quick Reference Guide
It is easy to access the 2017 Contribution Limits via the web or at irs.gov. Simply stated anyone can contribute to an IRA but depending on two main factors – they may or may not be able to deduct the contribution from their income taxes. If your covered by a 401(k) (or the like) plan at work you can contribute up to $18k this year or $24k if your 50 or older. And for those that qualify they can also contribute to a ROTH IRA. Those limits for 2017 are $5500 for those under 50
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