Here's our collection of important numbers, helpful tips, and interesting articles we've compiled for the month of January.
We believe you will find them useful in helping to secure your financial future.
We also threw in a few other interesting topics outside the world of finance. Enjoy!
Crunching The Numbers:
72 -- The new age at which you have to start taking out Required Minimum Distributions (RMDs) from your IRAs and qualified plans.
$6,000 -- The limit on annual IRA contributions for individuals under age 50.1
$1,000 -- The annual IRA catch-up contribution limit for individuals aged 50 and over.1
$19,500 -- The limit on annual 401(k) plan contributions for employees under age 50.1
$6,500 -- The annual 401(k) catch-up contribution limit for employees aged 50 and over.1
679,072 -- The number of businesses created in 2014 (latest statistics from Bureau of Labor Statistics).2
$51,419 -- Median income for individuals self-employed at their own incorporated businesses, versus those self-employed at their own unincorporated firms at $25,240.3
20% -- The deduction of qualified business income for certain pass-through entities.
Tips
Travel tips for those traveling with children -- Veteran pilot offers tips for smooth travel with children (Boston Globe)
Social Security Administration tips -- Social Security & You: Tips for dealing with the Social Security Administration (Tuscon.com)
A healthier New Year! -- Six tips for a healthy New Year (City of Boulder)
No tax surprises in 2020 -- Tips For Small Business Owners To Avoid Tax Surprises In 2020 (Forbes)
Articles
Does Conflict-Free Advice Exist? -- Conflicts of interest occur naturally in business. How to tell if there is such a true thing as conflict-free advice in the financial services world. (Canyon Ridge Group, LLC)
The SECURE Act -- Learn more about this monumental bill that was just passed, and how it may affect your retirement strategies. (Canyon Ridge Group, LLC)
What is it going to cost them? -- How are Meghan Markle & Prince Harry's finances going to be impacted by the royal exit? #Megxit (Fox News)
Which is the bigger show?-- ‘The Mandalorian’ Vs. ‘The Witcher,’ Disney Plus Vs. Netflix, In One Chart. Which show has a bigger audience? (Forbes)
The Raiders are coming -- As we draw closer to the day that the Raiders will play their first home game in Las Vegas, take a look inside their stadium. (Fox Business)
Brick by Brick -- Want to be part of the new Raiders' stadium? You can purchase a personalized, legacy brick and leave a lasting impression at the stadium (Fox 5 Vegas)