If you are somehow managing to diligently contribute the maximum amount to your 401k and IRA accounts, then there's good news for you in 2013. The IRS contribution limits for the major U.S. retirement accounts will be increased next year! This is exciting news for anyone looking to invest more of their money without the burden of paying taxes on their returns. The Money Design November Update plan I proposed recently will get a big boost from these new increases that will help me to achieve my goals much more quickly and safely. … [Read more...] about New IRS Contribution Limits for Retirement Accounts in 2013
One-Million dollars
Retiring on the One-Million Dollar Myth
I recently read an article on Daily Finance that posed the question of whether having one-million dollars was enough to retire. For many, one-million dollars is perceived as being the classic bench-mark of finally having enough money to retire as well as a symbolic goal for finally “being rich”. But as you can expect, the article posed several questions about whether retiring on one-million dollars had become a myth. Would it be enough to retire or stop working altogether? Where Does One-Million Dollars Get You? Perhaps it’s a sign of the times that our expenses have gotten out of control. Or maybe our society just simply “thinks” they need too much to live comfortably. Either way, we can explore this situation a little further. … [Read more...] about Retiring on the One-Million Dollar Myth