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As particular COVID-19 vaccines have been authorized by the Food and Drug Administration (FDA) for emergency use and are starting to become more available, employers continue to grapple with how they should (or should not) address the vaccination status of their employees.
Many IRA and retirement plan limits are indexed for inflation each year. While some of the limits remain unchanged for 2021, other key numbers have increased.
IRA contribution limits
The maximum amount you can contribute to a traditional IRA or a Roth IRA in 2021 is $6,000 (or 100% of your earned income, if less), unchanged from 2020. The maximum catch-up contribution for those age 50 or older remains $1,000. You can contribute to both a traditional IRA and a Roth IRA in 2021, but your total contributions cannot exceed these annual limits.
For most of our lives, retirement is a distant thought that seems years and years away. Then, as with all things time-related, we find this new phase of life to be just around the corner. But, how exactly do we know when to retire?
Deciding when to retire may not be one decision but a series of decisions and calculations. For example, you'll need to estimate not only your anticipated expenses, but also what sources of retirement income you'll have and how long you'll need your retirement savings to last. You'll need to take into account your life expectancy and health as well as when you want to start receiving Social Security or pension benefits, and when you'll start to tap your retirement savings.
In our commitment to provide ongoing communication and leadership, we are sharing with you the outcomes of our most recent economic committee meeting for the Freedom Capital Management Strategies®. This quarterly update provides insight from our economic committee's findings on the macro-economic environment.
This report is available in both video and print formats.
At any given point in time, retiree confidence is an important measurement. People want to know that they will have the funds they need to live comfortably when it comes time to retire and that their healthcare needs will be met. In light of the current pandemic and accompanying economic downturn, retiree confidence has shifted.
The Retirement Confidence Survey conducted each year by the Employee Benefit Research Institute (EBRI) took a slightly different tack in 2020.
Do elections impact markets? What are the implications for investors? These questions and more are addressed in this special report rom Freedom Capital Management Strategies®.
Download and read The Elections and Market Report
You know how important it is to plan for your retirement, but where do you begin? One of your first steps should be to estimate how much income you'll need to fund your retirement. That's not as easy as it sounds, because retirement planning is not an exact science. Your specific needs depend on your goals and many other factors.
Use your current income as a starting point
by Paul J. Brooks – September 9, 2020
Schools have announced their re-opening plans, which vary widely across states and localities. Some schools plan to remain open several days a week and direct students to attend remotely the other days.