There’s Still Time to Make a 2012 IRA Contribution!
The deadline for 2012 IRA contributions is April 15, 2013. The limit for total contributions to all IRAs generally is $5,000 ($6,000 if you were age 50 or older on Dec. 31, 2012). Any unused limit can’t be carried forward to make larger contributions in future years. So if you haven’t already maxed out your [...]
Social Security Statements No Longer Mailed
You may have noticed that you’re no longer getting the annual Social Security Statements . The annual statements were a good way to check that earnings records had been reported correctly and a way for you to estimate your expected retirement benefit. However, due to budgetary issues, the Social Security Administration stopped mailing these [...]
Required Minimum Distribution and the ‘Still Working’ status
This question seems to keep coming up more and more since people are working longer. Clients often ask if the have to take their “required minimum distribution” even though they are still working past age 70-1/2. The “still working” exception only applies to your current employer, only if the employer plan allows it, and you [...]
SHOULD I TAKE SOCIAL SECURITY EARLY?
This is a question that I am often asked. Conventional wisdom says to wait as long as possible, but these are not conventional times. Many baby boomers today think they should take benefits now while they can, and there are more people taking early benefits. There is much discussion about Social Security reform, increasing the [...]
