Most employers nowadays are eco-friendly. Instead of mailing you a quarterly 401(k) statement, like they did in the old days, they email the statement to you or make it available to you digitally through a workplace portal. We’re all for saving trees. But, any statement, whether emailed or paper, doesn’t do you any good if […]
Confused as to whether a Roth IRA or Traditional IRA might be best for you? Mari talked with Kiplinger’s Personal Finance magazine about how to choose between a Roth or Traditional IRA. The first thing to know is that the contribution limit of $6,000 is unchanged from 2019 (you can contribute an extra $1,000, for a […]
Getting ready for retirement? Some people prefer to make an abrupt transition into retirement. One day they’re working, the next day they’re done forever. Others like to ease into it and kick the tires first. We talked to financial writer Alina Tugend of Kiplinger’s Personal Finance about the pros and con of taking a retirement […]
Older Americans are living longer than ever. So it should be no surprise that many plan to continue working into retirement to keep busy and stay mentally fit, reports Jacqueline Sergeant for Financial Advisor magazine. By 2026, almost 1/3 of all individuals in the 65-to-74 age group are projected to be gainfully employed, according to […]
Sorry! IRS says IRA contribution limits will NOT go up for 2020. They stay at $6,000 total for your Traditional or Roth IRAs ($7,000 if age 50 or over). Financial Tip: If you’re eligible to contribute, make sure you do so. Those annual contributions can add up to big amounts over a lifetime.
Good news for 401(k) savers! The IRS says you can contribute more to your 401(k) in 2020. Under 50? The savings limit will increase from $19,000 this year to $19,500 next year. Age 50 or over? The limit goes up from $25,000 to $26,000. Make sure to tell your employer to change your payroll deductions […]
If you’re between the ages of 55 and 70, please consider joining us on October 23 for a special educational workshop on maximizing your Social Security benefits. Space is limited, so call early to reserve a seat. Most people count on Social Security for a significant portion of their retirement income, so learn how to […]
We can’t begin to tell you how many clients are calling us to say they’re thinking of downsizing. They want to talk to us about their plans for buying a new home and changing their lifestyle. Our job is to make sure they can afford to do everything they’re dreaming about. But here’s the surprise. […]
We’re sorry to hear that American retirees are losing $3.4 trillion in potential retirement income by making bad decisions about when to start their Social Security benefits. Not our clients. As part of our retirement services, we help clients explore different options and optimize claiming strategies so they get the most bang for their buck. In […]
If it’s up to the Congress, there may be some major changes to your IRA before the end of the year. And not all the changes are good. The House has passed the SECURE (Setting Every Community Up for Retirement Enhancement) Act. It’s now up to the Senate to consider the bill, which has been […]
About Mari Adam, CFP®
Mari Adam, Certified Financial Planner™ and President of Adam Financial Associates Inc, has been helping individuals and families chart their financial futures for twenty five years. Mari has appeared in publications such as Business Week, CBS MarketWatch, Wall Street Journal, Kiplinger’s, Newsweek, and Money Magazine.
Have A Financial Question?
- The Market’s Down: Should You Make Changes To Your 401(k)? March 23, 2020
- What You Need To Know About The CARES Stimulus Act And Your Retirement Accounts March 31, 2020
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