What is Inflation Exactly?
April 7, 2010 by Pete Mitchell
Filed under All Posts, Other Market Info
I get this question a lot. What exactly is inflation? Inflation, to kind of make it really simple, is when the value of everything goes up except for the cash in your pocket, which stays the same.
When Can I Make Withdrawals From My 401k?
April 1, 2010 by Pete Mitchell
Filed under All Posts, Your 401(k)
When Can I Make Withdrawals From My 401k? Right now I have been getting a lot of questions from people asking, “When can I start taking money out of my 401k?” I think a lot of it has to do with the current state of the economy and people are just trying to find more [...]
How Much Can I Contribute to My 401k?
March 30, 2010 by Pete Mitchell
Filed under All Posts, Everything IRA, Your 401(k)
One of the questions that I get a lot is, “How much money can I actually contribute to my 401k?”
The answer to that is a little bit more complicated but I’m going to give you the loose guidelines, if you will. The basic guideline is this: You can put away, as an individual, $16,500 a year into your 401k. Now, if you’re age 50 or older, you’re able to do a catch-up of an additional $5,500 per year into your 401k.
