by Dayle Scheinman | Jan 28, 2024 | Defined Contribution Plans
Retirement plan contribution limits effective January 1, 2024, include: 401(k) Contributions Increased to $23,000 Catch-up: stayed the same at $7,500 IRA Contributions Roth: increased to $7,000 Traditional: increased to $7,000 Catch-up: stayed the same at $1,000...
by Dayle Scheinman | Nov 22, 2023 | Financial Health
A Health Savings Account (HSA) is a tax-advantaged savings account designed for individuals with high-deductible health plans (HDHPs) to help them save for qualified medical expenses. Here are some of the key benefits of having an HSA: 1. Tax Advantages • Tax...
by Dayle Scheinman | Nov 15, 2023 | Financial Health, Investing
Anxious investors could miss out when trying to avoid turbulent markets. The last time inflation was 10% was in February of 1979. Back then, a suffering economy and a volatile market added to investors’ anxiety. This graph illustrates five choices an equity investor...
by Dayle Scheinman | Nov 15, 2023 | Social Security Income
Social Security benefits currently represent about a third of the aggregate total income of Americans aged 65 and older, according to the Social Security Administration. For future generations of retirees, Social Security may represent a much smaller percentage of...
by Dayle Scheinman | Oct 5, 2023 | Financial Health, Investing
There are several common reasons why the average person may not do as well investing in the stocks as the stock market overall. It has been my experience, after years of conversations with people, that not keeping up with the stock market usually boils down to sliding...
