January 23rd, 2017

2017 Retirement Plan Contribution Limits

Each October, the Internal Revenue Service announces changes to annual contribution limits for IRAs and workplace retirement plans. Are any of these limits rising for 2017? Will IRA contribution limits go up? Unfortunately, no.  Annual contributions for Roth and traditional IRAs remain capped at $5,500 for 2017, with an additional $1,000 catch-up contribution permitted for … Continue reading “2017 Retirement Plan Contribution Limits”

October 24th, 2016

A Small Change to Social Security in 2017 with a Possible Medicare Premium Hike

The average Social Security recipient will receive a whopping $5 per month raise next year. In 2017, Social Security’s mean monthly benefit is projected to rise, from the current $1,355, by this scant amount because of low yearly inflation measured by the federal government. Social Security cost-of-living adjustments (COLAs) are tied to changes in the … Continue reading “A Small Change to Social Security in 2017 with a Possible Medicare Premium Hike”