Do you ever catch yourself day dreaming about retiring on a sunny beach. Well, you can make that dream come true. If you haven’t started saving yet, or haven’t saved enough, the time is now. Here are a few tips to help you meet your goal.
* Contribute as much that is comfortably possible to a health savings account (HSA), which can be used to offset medical expenses, up to $3,400 a year, or $4,400 if you are age 55 or older.
* Contribute as much as possible to a Traditional or Roth IRA every year, up to the $5,500 maximum, or $6,500 if you are age 50 or older.
* Contribute as much as possible every year to a 401(k) pretax retirement plan, up to the $18,000 maximum, or $24,000 if you are age 50 or older.
At Summit CPA we offer multiple resources to get you on the right track. Contact our office at (260) 497-9761 to schedule an appointment with our advisors.