I just finished filing my taxes. I must say, even with the addition of a little ‘business income’, the whole process was pretty mundane. I had under-withheld by about $400, which isn’t bad, considering that I didn’t really ‘know’ what my annual income was going to be. I didn’t have to pay any penalties. The tax forms were submitted electronically…
Category: Retirement
How Much Does It Cost, Per Month, To Fully-Fund Various Retirement Accounts?
I’ve been doing a few calculations – figuring out how much it costs, per month, to fully-fund various retirement accounts. 401(k) and 403(b) plans – (Contribution limits are for those under 50. Certain plans offer ‘catchup contributions’ for those over 50.) Contribution limits for 2008 – $15,500 Contributions can be made for income earned January 1st until December 31st of…
Contribution Goals And Time Frames For Retirement And Education Savings Accounts
I like to create simple, easy-to-understand, financial goals. I have created a chart, outlining my ‘contribution goals’ for the next few months. I will make contributions to two Roth IRAs, two Education Savings Accounts, and a SEP-IRA. (I also contribute to a 403b through work and my wife contributes to her pension plan. The chart reflects contributions to be made…