Newsletter Archive

Marotta On Money - December 10 Newsletter

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Retirement Planning

New 401(k) and IRA Limits for 2013 (12-10-2012)

It's time to consider adjusting your retirement savings. The Internal Revenue Service recently issued a variety of inflation adjustments for 2013, and retirement savers can now save even more. Beginning with the 2013 calendar year, participants in 401(k), 403(b), and governmental 457 or Thrift plans can now save up to $17,500. This is a $500 increase from 2012. Those age 50 or older can save an additional $5,500 as a catch-up provision for a total limit of $23,000. This catch-up ceiling is unchanged from 2012.
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Upcoming Events

12/15

Be sure you have taken your Required Minimum Distributions from your IRA accounts

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12/19

Know the reason for the season

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Scrooge's Nephew Fred Is a Traveler (12-17-2007)

Every December I reread "A Christmas Carol" by Charles Dickens. Ebenezer Scrooge's nephew Fred is the character young people most easily relate to. He is young himself, carefree, in love and enjoying life with his friends. He has a "traveler" personality. In his description of financial personalities in his book "Why Smart People Do Stupid Things with Money," Bert Whitehead describes a "traveler" as someone who would rather spend money on experience than things. Whitehead maps financial personality on two different scales. The first measures people's tendency toward greed or fear.
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christmas carol

Dickens' "A Christmas Carol"