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/


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.
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