Planning Briefs
5 Ways To Boost Retirement Savings
Published Wednesday, February 24, 2016 at: 7:00 AM EST
The federal government recently announced the maximum limits for tax-advantaged retirement plans for 2017. For example, the most you can defer to a 401(k) plan—without a catch-up contribution if you're 50 or older—is still $18,000, while the IRA contribution limit stays at $5,500. Relatively low inflation is the reason these statutory thresholds didn't budge.But that doesn't mean you can't increase your saving for retirement this year. Here are five ideas for expanding your retirement nest egg:1. Go the max. Many people fail to contribute anywhere near the maximum amount allowed for retirement plans. So your first step this year could...
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