Financial Planning

Call it a gift. Call it crazy. Call it whatever you want. But it’s good news. The IRS will let you put more money into your 401(k) account in 2020. The maximum contribution to a 401(k) this year is $19,500, up from $19,000 in 2019. If you are age 50 or older, you can make an additional $6,500 catch-up contribution [...]

Americans are living much longer. Some are running out of money before their death and need additional assistance from the Federal Government, which puts more strain on a system that’s bringing in less money than it’s paying retirees. On January 1, 2020, the SECURE Act (Setting Every Community Up for Retirement Enhancement) took effect, allowing you to save more and [...]