You’ve just turned 50, it’s time to start investing more than $50 per month into your retirement account. Today’s article gives tips for people who are in their 50s who are quickly approaching the lovely age of retirement. Here’s what they had to say, ” Chad Waddoups, vice president of investments and insurance with Mountain America Credit Union, said he has some tips for those entering age 50 and looking toward retirement. Step 1: Maximize your contributions “Once you turn 50, you have the ability by IRS rules to contribute more,” Waddoups said. In a 401K, the annual maximum contribution goes from $18,000 to $24,000. In an IRA, it jumps from $5,500 to $6,500.” To read more, CLICK HERE.
