As we start to get older, we tend to start thinking more and more about retirement, or at least that’s what we should be thinking about as we age. If retirement is just a few years away, it’s important to make sure you are ready for the financial changes that it will bring. Things really will change. It’s time that you started to look at the financial reality of the situation to make sure that retirement – full retirement – is feasible for you. In today’s economic state, some who are nearing retirement age find that they may need to take a part time job to be sure they can make ends meet. There’s nothing wrong with this, but it might not be a part of your retirement plan. If you want to take it easy during your retirement, you may want to look at your current assets and see […]
Here’s a bit of a different type of article. With all the money you save through money saving tips you learn from this blog 🙂 you should be saving more in retirement. Here’s a quick run down on how a Roth IRA works. In 2013, you are allowed to contribute up to $5,500 to your Roth IRA if you are under the age of 50 and $6,500 if you are over the age of 50. The good news is that you only have to be 50 or older for one day during the past year. For example, if you turned 50 on Christmas day, you can contribute an extra $1,000 for 2013. The IRS permits you to have multiple IRAs as long as you do not contribute more than your yearly limit.