Stale Green Light

Are you prepared for a change in the green?

  • Dec 8

    Stocks have been surging since March at a rate of 60%, but that doesn’t mean retirement hopefuls are benefiting or that the stocks will continue that way. The 401K of anyone working at one place over 10 years is still down from 2 years ago and 42% of people over 50 don’t think they will have enough money to retire.

    The government has enacted a plan giving anyone over 50 the chance to make catch-up contributions to their 401K. The limit right now is 16,500 but the government is allowing anyone over 50 to contribute an extra 5,500 a year.

    How will anyone be able to find all this extra money? Start with the kids. Nine out of 10 parents admit they help out their kids which is effecting their own retirement plans.

    Downsize some things such as cable, cell phones, and cars. It’s also a good idea to invest with caution. While it might seem difficult, take advantage of the retirement catch up plan.