Tuesday, March 14, 2006
Retirement Planning: Baby Boomers Aren't Catching Up
If you're age 50 or older, you could boost your retirement savings by contributing more than the standard limit to plans such as 401(k)s and IRAs, but you're probably not. These so-called catch-up contributions can help those nearing retirement to supersize their nest eggs -- morphing them from chicken eggs to ostrich eggs.
For example, the 401(k) contribution limit in 2006, for participants younger than age 50, is $15,000. Participants age 50 or older may contribute an additional $5,000 for a total of $20,000 in 2006.
Read Full Article: Retirement Planning: Baby Boomers Aren't Catching Up
Source: Bankrate.com
For example, the 401(k) contribution limit in 2006, for participants younger than age 50, is $15,000. Participants age 50 or older may contribute an additional $5,000 for a total of $20,000 in 2006.
Read Full Article: Retirement Planning: Baby Boomers Aren't Catching Up
Source: Bankrate.com
Permalink posted by armandn @ 7:02 AM 
 |
 |  |
  |
