It can’t be overemphasized: No matter how old you are, saving for retirement is a smart move. The following article from Fidelity Investments shows that not only can it significantly “pay to save in an IRA” but also that “the age you start investing really matters”: Click here.

If you’re over 50, you may catch up on your savings. Click here to learn more.

Did you get a raise in 2017? Money Magazine (March 2017) makes this suggestion:

“Before you get used to the higher take-home pay of a fab new job, boost your 401(k) contribution. If it’s a traditional plan funded with pretax dollars, you’ll lower your tax bill for 2017. The annual maximum you can set aside from your pay remains at $18,000 if you are younger than 50, plus another $6000 if you are at least 50 or will celebrate that birthday by year-end. (Your take-home pay may go down by less than you feared.” The chart then shows that “when you boost your contribution to a pretax 401(k), you have less income on which tax is withheld.” With a note adding that “exact numbers may vary depending on state taxes and details of your tax withholding,” the chart details that a person contributing an additional $100 per paycheck would realize a cut in take-home pay of the following:

Tax bracket:      15%        25%        28%        33%        35%

                               $85         $75         $72         $67         $65