May 2006
by Ben Lawler
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Invest in Your Retirement.

Considering the state of the nation's savings rate, its health insurance, retirement and pension systems, people should protect themselves financially - Contributions to retirement plans can help.

There are some changes to the retirement plan contribution limits for 2006. The maximum contribution for an IRA remains at $4,000 for those under age 50, but it increases to $5,000 for those 50 and older. The SIMPLE plan limit remains at $10,000 for individuals under age 50, but those 50 and older can set aside up to $12,500 for 2006, or $500 more than last year. The 401(k) limit increases to $15,000; those 50 and older can contribute up to $20,000


Some of today’s best rates:

1. CD
     Indymac  90 day, 4.74%

2. Money Market
    HSBC 4.80%

 

Written by Ben Lawler, CPA

CEO & President of ProActive Advisors, Inc.