At some point, you have to make withdrawls from your retirement accounts. Throughout your working years, your plan account has given you the opportunity for a tax deferred growth.
Federal law requires that by April 1st, in the year you reach age 701/2, you must begin distribution from retirement accounts. The required minimum distribution amount is [...]
It is no secret that women should invest even more money than men because
Women are more likely to transistion in and out of the workplace more often, which means they may not have a constant income to help them invest for retirement on a consistent basis; and
Women live longer than men. Research shows us that, [...]
The following shows the IRA contribution limits for the various years. IRA
contribution limits for 2009 and beyond would be adjusted based on the inflation
and IRS will release this information at later time. These limits would apply
to both traditional IRA and roth IRA.
IRA Contribution Limits
The following table shows the 401(K) contribution limits.
401k Contribution Limits
Year
AGE 49 & BELOW
AGE 50 & ABOVE
2005
$14,000
$18,000
2006
$15,000
$20,000
2007
$15,500
$20,500
2008
$15,500
$20,500
2009
Â
Indexed to inflation
2010
Â
Indexed to inflation