2025 401(k) Contribution Limits Announced; New Super Catch-Up for Ages 60-63

/in /by

2025 401(k) Contribution Limits Announced; New Super Catch-Up for Ages 60-63

The IRS officially announced the new 401(k) contribution limits for 2025 (full news release), which also included a new “super catch-up” allowance for people who are ages 60-63 at year-end 2025. Strangely, it goes back down once you are age 64. I hadn’t heard of this before now. As usual, by “401(k)” I mean that it applies to 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan. Follow link to read more from MyMoneyBlog. https://www.mymoneyblog.com/2025-401k-contribution-limits-super-catch-up.html

 

2025 401(k) Contribution Limits Announced; New Super Catch-Up for Ages 60-63

/in /by

2025 401(k) Contribution Limits Announced; New Super Catch-Up for Ages 60-63

The IRS officially announced the new 401(k) contribution limits for 2025 (full news release), which also included a new “super catch-up” allowance for people who are ages 60-63 at year-end 2025. Strangely, it goes back down once you are age 64. I hadn’t heard of this before now. As usual, by “401(k)” I mean that it applies to 401(k), 403(b), governmental 457 plans, and the federal government’s Thrift Savings Plan. Follow link to read more from MyMoneyBlog. https://bit.ly/4fjqCqc

 

The Rise of TSP Millionaires: How Federal Employees Are Achieving Seven-Figure Savings

/in /by

The Rise of TSP Millionaires: How Federal Employees Are Achieving Seven-Figure Savings

In recent years, the number of TSP millionaires has been steadily rising, with nearly 117,000 federal employees now holding seven-figure balances in their Thrift Savings Plan accounts. This significant growth is largely attributed to strong market performance, disciplined long-term saving, and the power of compounding.

Whether you’re early in your career or nearing retirement, learning how to become a TSP millionaire can help you maximize your TSP. Here’s what you need to know. Follow link to read more from Servicing Those Who Serve. https://bit.ly/48o7NiX

How will the election impact my investments?

/in /by

As market volatility increases around election time you’re probably wondering, “How will the election impact my investments?” Please feel free to reach out to discuss any concerns you may have.

What Are the Funeral Expenses and What Is the Average Cost?

/in /by

What Are the Funeral Expenses and What Is the Average Cost?

Source: Phil Graham, Founder of The Beneficiary Liquidity Plan

Funeral home expenses often include professional services (embalming, use of facilities, service, etc.), merchandise costs (urns, caskets, vaults, headstones, etc.), and cash advances (flowers, musician, honorarium, death certificates, etc.). Families should plan to spend close to $10,000 for a burial and $6,700 for cremation services. The Beneficiary Liquidity Plan® helps to ensure families can pay for these expenses at any funeral home in the future.

Are There Additional Out of pocket Expenses for the Family?

Additional expenses can include travel costs for family members, celebration of life, luncheon, property taxes, putting a house on the market, etc. The Beneficiary Liquidity Plan® will give families access to money immediately for more than just the funeral service. Please call 856-401-1101 or contact us at www.franklinplanning.com to learn more.