Retirement - North Light Financial Services

How Much Retirement Income Will You Really Need?

Many people underestimate lifestyle costs, medical expenses and inflation. What is enough? What is not enough? If youre considering retiring in the near future, youve probably heard or read that you need about 70% of your end salary to live comfortably in retirement. This estimate is frequently repeated but that doesnt mean it is true for everyone. It may not be true for you. You wont learn how much retirement income youll need by reading this article. Youll want [...]

Getting Off on the Right Foot in 2012: Retirement Plans

401(k), 403(b) and 457 plan annual contribution limits rise slightly to $17,000, and you can contribute an additional $5,500 to these accounts if you are 50 or older this year. IRA contribution levels are unchanged from 2011: the ceiling is $5,000, $6,000 if you will be 50 or older in 2012.1 As you strive to contribute as much as you comfortably can to these accounts this year, you will probably notice some changes with the retirement plan at your workplace. [...]