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New Year's Resolution

Set yourself a financial New Year's Resolution

The msot common New Year's resolutions are things like "I'm going to lose weight" or "I'm going to quit smoking." Although these things do make you healthier and help you in your future, try to make a resolution this year that will really prepare you for your future. How about instead  making it something along the lines of "I am going to start saving for retirement" or "I am going to get on track for saving for retirement."

This year the contribution limits to your Roth and Traditional IRA's have increased to $5,500 if you are under the age of 50 and $6,500 if you are over the age of 50. 401(k) contribution limits have also increased to $17,500 if you are under 50 and an extra $5,500 if you are over 50.

These new contribution limits allow you to put away more money into your retirment so that you are prepared and on the right track when you retire. We offer a free retirement analysis for you to find out if you are on track or not toward your retirement. If you are not, we can help you figure out a plan and determine how much you need to save every month to get you there.

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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