A few months back the IRS released their 2012 IRA contribution limits and income phaseouts. If you have a traditional or Roth IRA, you should keep a close eye on the limits every year because every once in a while well see an increase in allowed contribution amounts or in the income phaseouts. When that happens, youll want to increase your contribution amounts, or adjust your pre-tax giving so that you can fully take advantage of what the current rules are.
For the 2012 tax year the allowed contribution amounts havent changed at all. The income phaseout limits have seen some small increases, however.
Need to roll over an old 401k but don’t know how to start? Use FiPath’s new rollover tool to compare your choices in secondsand find the right firm or financial advisor for your needs.
Get started now.
201
It turns out that the silent generation may still be living up to their name. Recent research reveals that only 28 percent of boomers’ parents say they regularly discuss money and finances with their family, and 41 percent feel they haven’t discussed their financial situation adequately with their children.1 The responsibility may fall on boomers to approach their aging parents about money-related issues. Suzanna de Baca, vice president of wealth strategies at Ameriprise Financial, suggests four questions to provide a starting point for these conversations.
Recent Comments