RALPH S. WENDELL, CERTIFIED FINANCIAL PLANNER™

66 Landis Avenue
Bridgeton, NJ 08302
Office (856) 455-5100
Fax (856) 455-6322

     


 

 

 

 

  The Most Important Aspects of Retirement Planning   
 

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
 
Know your limits – Are you maximizing your current contributions? 

Account Type

 

 

 

   

Traditional and Roth IRA

2004

2005

2006

2007

2008

Annual Contributions

$  3,000

$   4,000

$  4,000

$  4,000

$  5,000

*Catch-up contribution

$     500

$     500

$  1,000

$  1,000 $  1,000

401(k), 403(b), 457 and SAR_SEP

 

 

 

   

Annual Contribution

$13,000

$14,000

$15,000

$15,500 Indexed to Inflation

*Catch-up contribution

$  3,000

$  4,000

$  5,000

$  5,000 Indexed to Inflation

Simple IRA

 

 

 

   

Annual Contribution

$  9,000

$10,000

$10,000

$10,500 Indexed to Inflation

*Catch-up contribution

$  1,500

$  2,000

$  2,500

$  2,500 Indexed to Inflation

*Only IRA owners and retirement plan participants age 50 and over may make catch-up contributions

 

 

 

 


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