Blog - North Light Financial Services

Accenting the Positive

Accentuating the Positive Retiring? Saving for retirement? Here’s some good news. Are 90% of articles written about retirement pessimistic? Sometimes it seems that way. Repeatedly, we are reminded that most baby boomers haven’t saved enough for the future. There’s no denying this, but the media is giving short shrift to other, more positive developments that may be improving the economic and retirement outlook for many Americans. Here are a few worth noting. 401(k) savings have rebounded tremendously from Great Recession [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:20-04:00December 18th, 2014|Financial Fitness, Retirement, Saving & Budgeting, Well-being|Comments Off

IRS Raises Retirement Plan Contribution Limits – 2015

IRS Raises Retirement Plan Contribution Limits Roth & traditional IRAs won’t get 2015 COLAs, but other plans will. A little inflation means a little adjustment. As the Consumer Price Index is up 1.7% over the last 12 months, the federal government is giving Social Security benefits a 1.7% boost for 2015 and lifting annual contribution limits on key pension plans as well.1 401(k), 403(b), 457 & TSP annual contribution limits increase by $500. You will be able to defer up [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:21-04:00December 4th, 2014|401(k)/403(b), Business/Economic News, Financial Fitness, IRA, Retirement|Comments Off

Getting Financially Fit for Retirement at 50

Getting Financially Fit for Retirement at 50 Things for trailing-edge boomers & Gen Xers to consider. When you turn 50, retirement starts to seem less abstract. In terms of retirement planning, a 50th birthday can act as a wake-up call. It may offer a powerful reminder to trailing-edge baby boomers and Gen Xers, many of whom are wrapping up their second act with inadequate retirement savings for their third. You may find yourself with such a shortfall, and you wouldn’t [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:21-04:00November 20th, 2014|401(k)/403(b), Investing, IRA, Retirement, Saving & Budgeting|Comments Off

How Is Health Care Reform Affecting the Federal Deficit?

How Is Health Care Reform Affecting the Federal Deficit? Some analysts think it is helping reduce the deficit; but others wholeheartedly disagree. Has the Affordable Care Act actually cut Medicare spending? The numbers from the Congressional Budget Office make a pretty good argument for that, and suggest that the ACA has had a distinct hand in the recent drop in the federal deficit. Detractors of the ACA say that statistical argument doesn’t tell the whole story. Medicare has been a [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:21-04:00November 6th, 2014|Business/Economic News, Health Insurance, Personal Finance|Comments Off

Fall Financial Reminders

Fall Financial Reminders The year is coming to a close. Have you thought about these financial ideas yet? As every calendar year ends, the window slowly closes on a set of financial opportunities. Here are several you might want to explore before 2015 arrives. Don’t forget that IRA RMD. If you own one or more traditional IRAs, you have to take your annual required minimum distribution (RMD) from one or more of those IRAs by December 31. If you are [...]

By info@northlightfinancialservices.com|2017-03-28T08:17:21-04:00October 23rd, 2014|Income Taxes, IRA, Personal Finance|Comments Off