IRS Announces 2023 401(k) and IRA Limit Increases Presented by Marc Aarons I thought I’d provide a quick reminder note regarding the IRS’s announcement in late October regarding retirement account limits for 2023 (IRS). I’m here to help with any questions you may have. 401(k), 403(b), 457 plans, and Thrift Savings Plan The […]
Retirement income may come from a variety of sources. Provided by Marc Aarons at Money Managers, Inc. For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security. Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security […]
Why you should refrain from making this move. Provided by Marc Aarons at Money Managers, Inc. Thinking about borrowing money from your 401(k), 403(b), or 457 account? Think twice about that because these loans are not only risky, but injurious, to your retirement planning. A loan of this kind damages your retirement savings prospects. […]
Companies are luring & retaining employees with this key perk. Provided by Marc Aarons @ Money Managers, Inc. What do your retirement plan participants wish you would offer? Besides the chance to save and invest part of their paychecks, that is? The answer could be “a little more help.” Last year, Charles Schwab surveyed […]
Some retirement savers choose this option in their 401(k) plan. Provided by Marc Aarons @ Money Managers, Inc. Ever hear of an SDBA? That acronym stands for self-directed brokerage account. If you are enrolled in a 401(k), 403(b), or 457 plan, you might want to see if your plan gives you this option, […]
2017 Retirement Account Limits How much can you contribute this year? Provided by Marc Aarons In 2017, you have another chance to max out your retirement accounts. Here is a rundown of yearly contribution limits for the popular retirement savings vehicles. IRAs. The 2017 limits are the same as in 2016: $5,500 for IRA […]