The IRS limit on annual employee contributions to 401(k)s, 403(b)s, most 457 plans and the federal government’s Thrift Savings Plan will rise to $19,500 next year, up from $19,000 in 2019 . The limit for IRAs remains $6,000 or $7,000 for ages 50 +. Source: Financial Planning for Women
Day: November 7, 2019
4 Steps to choosing a health plan for the coming year
Get guidance for this important decision from the Humble Dollar, courtesy of Richard Conner. 4-step process:1. Calculate the total annual premium2. To the results from step No. 1, add the deductible for each plan. 3. Subtract the deductible from the out of pocket (OOP) maximum.4. Add the premium amount from step No. 1 to the OOP…
Best Credit Cards for 2019
“Credit cards are a useful financial tool if used responsibly. With a credit card, you can charge items and services that you need and then pay them off at a later date. If chosen wisely, a credit card can even be used to earn rewards or to build credit.” Writing for Consumer Affairs, Beverly Harzog…
What will Medicare cost me in retirement?
“Health care inflation has been running about double the rate of general inflation.” “The standard monthly premium for Part B (outpatient services) this year is $135.50; Medicare’s trustees forecast annual increases averaging 5.9 percent through 2028. Enrollees in traditional Medicare can expect inflation of 6 percent if inflation for Medigap premiums is included.” “According to…
Tips for College Graduates Making Their First Loan Payments
Your Money adviser (The New York Times) Tips for College Graduates Making Their First Loan Payment. By Ann Carrns, Nov. 1, 2019 Make sure you know how much you owe and to whom. Then, look at your payment options. “Student borrowers typically get a six-month grace period after graduating from college. For students who earned…
Colleges mislead high school student into applying
Numerous reports are coming out with reports that many colleges and universities are recruiting applicants who have no chance of being accepted to their institution. The goal of the colleges is to reduce their acceptance rate, making them appear to be more selective. This process hurts students who may pay substantial application fees to institutions…