2012 Retirement Plan Limitations- 401(k)s Rejoice!

Good news!  We can save more in our retirement accounts!

Here is the link to the announcement with the details-  http://www.irs.gov/newsroom/article/0,,id=248482,00.html

For those that are trying to maximize your savings each year, I saw this quote on the Wall Street Journal’s column concerning the contribution limits:  “Anyone who can afford to up their contribution should,…”  http://blogs.smartmoney.com/encore/2011/10/20/maximium-401k-contribution-raised-for-2012/?mod=SMBlog&mod=encore

For those of us that really don’t like blanket statements like this, I would ask you to consider whether you need to raise your contribution level or, possibly, work on some other goal that may be more important today. (That’s the individual planner in me coming through.)

If you want to know more about your company retirement plans and things you should consider in the review, may I recommend this site and book?  http://www.401kripoff.com/

Advertisements

About Christopher Hessenflow

Christopher Hessenflow is a financial planner in the Chicago area. He works with all sorts of people who are much more interesting than he is. He enjoys his career which lends him time to think and, sometimes, be creative. Chip was born bald.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s