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Retirement

2022 Contribution Limits

2022 Contribution Limits Is it time to contribute more?  Preparing for retirement just got a little more financial wiggle room. This week, the Internal Revenue Service (IRS) announced new contribution limits for 2022. Staying put for 2022 are traditional Individual Retirement Accounts (IRAs), with the limit remaining at $6,000. The catch-up contribution for traditional IRAs remains $1,000 as well.1 For workplace retirement accounts (i.e. 401(k), 403(b), amongst others), the contribution limit rises $1,000 to $20,500. Catch-up contributions remain at $6,500.1 [...]

By |2021-12-03T14:58:34-05:00November 18th, 2021|401(k)/403(b), Retirement|Comments Off on 2022 Contribution Limits
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401(k) Millionaires

401(k) Millionaires What does this mean for your overall retirement strategy? Your workplace retirement account can play a critical role in your overall retirement strategy. However, some have gone further with the accounts than others, especially recently. CNBC reported on findings that place 401(k) accounts at all-time highs, with some even joining the much-desired “two comma club” of 401(k) millionaires. Average 401(k) balances jumped 24% from the previous year to $129,300. Also on the rise were overall contributions, with 12% [...]

By |2021-10-14T14:35:39-04:00October 14th, 2021|401(k)/403(b), Retirement, Savings and Investing|Comments Off on 401(k) Millionaires
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Measuring the Value of a Financial Professional

Measuring the Value of a Financial Professional Findings suggest that these relationships can make a difference for investors. What is a relationship with a financial professional worth to an investor? A 2019 study by Vanguard, one of the world’s largest money managers, attempted to answer that question. Vanguard’s whitepaper, concluded that when an investor works with a professional and receives that level of investment advice, they may see a net portfolio return about 3% higher over time.1 How did this [...]

By |2021-07-02T13:21:31-04:00July 2nd, 2021|Personal Finance, Retirement|Comments Off on Measuring the Value of a Financial Professional
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Retirement Blind Spots

Retirement Blindspots Some life and financial factors that can sometimes be overlooked. We all have our “blue sky” visions of the way retirement should be, yet our futures may unfold in ways we do not predict. So, as you think about your “second act,” you may want to consider some life and financial factors that can suddenly arise. You may end up retiring earlier than you expect. If you leave the workforce at “full” retirement age (FRA), which is 67 [...]

By |2021-04-28T13:44:19-04:00April 15th, 2021|Retirement|Comments Off on Retirement Blind Spots
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2020 IRA Deadlines Are Approaching

2020 IRA Deadlines Are Approaching Here is what you need to know. Financially, many of us associate April with taxes – but we should also associate December with important IRA deadlines. December 31, 2021 is the deadline to take your Required Minimum Distribution (RMD) from certain individual retirement accounts. April 15, 2021 is the deadline for making annual contributions to a traditional IRA, Roth IRA, and certain other retirement accounts.1 Some people may not realize when they can make their [...]

By |2021-03-05T14:54:46-05:00March 5th, 2021|Personal Finance, Retirement|Comments Off on 2020 IRA Deadlines Are Approaching
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Photo Credit

Thank you to Salmon Falls Photography in Plymouth for use of their lovely photo in our header!

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Disclaimer

Registered Representative, Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Investment Advisor Representative, Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and North Light Financial Services are not affiliated. Cambridge does not offer tax advice. Office of Supervisory Jurisdiction: 46 Accord Park Drive / Norwell, MA 02061 Phone: 781-878-4063 Due to various state regulations and registration requirements concerning the dissemination of information regarding investment products and services, we are currently required to limit access of the following pages to individuals residing in states where we are currently registered: CA, FL, GA, HI, KY, IL, LA, MA, ME, NC, NE, NM, OR, RI, SC, TX, VT, WV. If we are not currently registered in your state please email us at info@northlightfinancialservices.com. We may be able to refer you to a representative in your area, or we may become registered in your state, at which time we could further discuss our services with you.

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