Most people have different financial priorities during different
stages of their lives, but regardless of your age or current life
stage, a balanced retirement plan is like a three-legged stool.
Remove one of the legs and the stool
teeters unsteadily and may crash, taking you with it.
The most important aspects of retirement planning can be placed
into three broad categories,
which are the three legs of
the plan:
(1) Government Sponsored Plans
(2) Employer Sponsored Plans
(3) Personal Savings Plans
With the futures of social security and pensions plans becoming
increasingly uncertain, are you prepared to stand alone on your personal
savings ?
Know your limits –
Are you maximizing your current contributions?
Account Type
Traditional and Roth IRA
2006
2007
2008
2009
2010
Annual Contributions
$ 4,000
$ 4,000
$ 5,000
$ 5,000
$ 5,000
*Catch-up contribution
$ 1,000
$ 1,000
$ 1,000
$ 1,000
$ 1,000
401(k), 403(b), 457 and SAR_SEP
Annual Contribution
$15,000
$15,500
$15,500
$16,500
$16,500
*Catch-up contribution
$ 5,000
$ 5,000
$ 5,000
$ 5,500
$ 5,500
Simple IRA
Annual Contribution
$10,000
$10,500
$10,500
$11,500
$11,500
*Catch-up contribution
$ 2,500
$ 2,500
$ 2,500
$ 2,500
$ 2,500
*Only IRA
owners and retirement plan participants age 50 and over may make
catch-up contributions
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Securities
and Registered Investment Advisory Services
offered through GWN Securities, Inc. Member
FINRA
11440 Jog Rd, Palm Beach Gardens, FL 33418 - (561) 472-2700
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Wendell Financial Services, LLC
and GWN Securities Inc. are not responsible for the content of the third
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