The team here at Woodside Wealth consists of avid readers with a particular interest in all things finance. When we see a good article, book, blog, or podcast we want to bring it to your attention. The following are some of our favorites – if they spark an idea or question please feel free to contact us.
The IRS has announced updated contribution limits for certain retirement accounts starting in 2020.
The American workforce is generally behind in planning for retirement. According to the Employee Benefit Research Institute and Wells Fargo, only 33% of all workers have calculated their income and expenses for the retirement years.
Considering an additional $500 per year can become $47,000 in the long run, you may be excited about the new maximum contribution opportunity for 401Ks and IRAs.
The long wait to take distributions from your retirement plan(s) may end sooner than you think.
If you’ve neglected your retirement savings while raising your child(ren) you are not alone. Many parents push off or drastically reduce retirement savings in order to save for their child’s future or cover the extra expenses a child always brings.
If you ask most people these days what age retirement begins, you will likely get an answer of 65. However, that answer is an oversimplification of a large range of ages at which people actually retire. According to a recently completed Gallup poll, 23% of Americans are planning on retiring before age 62, 38% plan to retire between the ages of 62 and 67 and 31% are currently planning on retiring at age 68 or later.