• Like
Recent Trends in Retirement Planning
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

Recent Trends in Retirement Planning

  • 56 views
Published

Tracy Wayne Mitchell is the author of The Informed Fed: A Survival Guide to Federal Employee Benefits. The book, published by Tandem House, helps federal employees transition into retirement as their …

Tracy Wayne Mitchell is the author of The Informed Fed: A Survival Guide to Federal Employee Benefits. The book, published by Tandem House, helps federal employees transition into retirement as their working years come to an end. Tracy Wayne Mitchell serves as president of both Federal Employee Benefit Advisors and Mitchell & Associates Financial LLC in Springfield, Missouri.

Published in Economy & Finance
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
    Be the first to like this
No Downloads

Views

Total Views
56
On SlideShare
0
From Embeds
0
Number of Embeds
0

Actions

Shares
Downloads
0
Comments
0
Likes
0

Embeds 0

No embeds

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Recent Trends in Retirement Planning By Tracy Wayne Mitchell
  • 2. Introduction • Tracy Wayne Mitchell is the author of The Informed Fed: A Survival Guide to Federal Employee Benefits. The book, published by Tandem House, helps federal employees transition into retirement as their working years come to an end. Tracy Wayne Mitchell serves as president of both Federal Employee Benefit Advisors and Mitchell & Associates Financial LLC in Springfield, Missouri.
  • 3. About Retirement Planning • Considering that many consultants advise individuals to prepare for retirement with annuities valued at approximately 70 percent of their preretirement income, investors need to remain current on all the latest emerging trends in retirement planning. In 2013, retirement planning consisted largely of maximizing employee benefits packages and fully understanding new 401k fee information. The maximum total annual 401k contribution rose to $17,500 in 2013 for individuals under the age of 50. This equated to an additional $142,000 over 45 years at a 7 percent average annual return.
  • 4. Conclusion • Higher IRA contribution limits played an equally important part in 2013 retirement planning trends, and these limits provided individuals with additional tax savings. Additionally, tax payers saving for retirement with an IRA or similar plan could receive a tax credit between $1,000 and $2,000. In 2013, only 21 percent of eligible individuals were aware of the existence of the Saver's Credit.