4Thought Blog


Save More. IRS Approves Larger Retirement Contributions

Posted by Concannon Miller on Thu, Dec 6, 2018

Did you know that you will be able to contribute more to your 401(k), IRA and other types of qualified retirement accounts in 2019? The IRS recently published annual cost-of-living adjustments to these accounts. Many limits have increased, including the amount you're allowed to contribute to a traditional IRA account, which last increased in 2013. Here's what you should know.

Every year, the IRS releases cost-of-living adjustments to qualified retirement plan amounts. For tax year 2019, many of the limits applicable to pensions and other retirement plans will increase. But some will remain unchanged from 2018.

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Topics: Individual tax planning, Financial planning

Important Deadline Approaching for Older Taxpayers with IRAs and 401(k)s

Posted by Concannon Miller on Fri, Mar 25, 2016

Did you turn age 70 1/2 in 2015? If so, an important date is coming up soon. By April 1, 2016, you must begin taking required minimum distributions (RMDs) from your traditional IRAs — or face a steep penalty. (Lifetime distributions don’t need to be taken from Roth IRAs at any age.)

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Topics: Financial planning, Individual tax planning

Emotions: The Achilles’ Heel of Financial Investing

Posted by Sean Linder on Thu, Feb 11, 2016

Buy low and sell high – the rational investment strategy. Sounds simple and straight forward in theory, but throw in human emotions and this once simple adage becomes difficult to implement in reality.

There are many theories behind behavioral finance and what drives investor’s decisions, but one observation has become clear: on average, individual investors tend to make irrational investment decisions.

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Topics: Financial planning

Millennials Can Benefit Greatly by Saving for Retirement Now

Posted by Sean Linder on Wed, Jan 6, 2016

At this point in most millennials’ lives, the thought of retirement – and especially saving for retirement – probably doesn’t even crack the list of Top 10 priorities.

With all the other immediate financial obligations – student loans, car payments, and possibly saving for a down payment on a house,  just to name a few – it’s hard to even grasp the idea of setting aside money for a point in life that’s 30 or 40 years away.

But the fact that retirement is such a distant thought is the exact reason you should start saving for it today.

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Topics: Financial planning

College Savings Plans: The Pros and Cons of Four Options

Posted by Concannon Miller on Fri, Sep 25, 2015

We’ll give our children and grandchildren dozens of gifts over their lives, but the most important gift we give may be a contribution to their college education.

Unfortunately, higher education costs continue to increase each year greater than the overall rate of inflation. As a result, developing a sensible strategy to plan, save and invest, and ultimately pay for higher education has become more important than ever.

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Topics: Financial planning

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