If you have maxed out your 401(k) contributions (voluntary pre-tax deferrals of $18,000 or $24,000 if you are 50 or older by year end) and want to save more for your retirement, here are five more ways to save after maxing your 401(k). On Investopedia recently, an investor asked 'How can I save if I already maxed out my 401(k) and IRA?' If you have the cash flow and desire, you can ... Read More
401k contribution limits
IRA and 401k Contribution Limits Changed for 2013
The IRS has increased the maximum contribution limits for contributions made for 2013 to the following: Traditional/IRA Rollover: $5,500 ($6,500 if you are 50 years old or older) Roth IRA: $5,500 ($6,500 if you are 50 years old or older) SIMPLE IRA: $12,000 ($14,500 if you are 50 years old or older) SEP IRA: $51,000 ($51,550 if you are 50 years old or older) The IRS also announced ... Read More
