Important Birthdays Over 50

So many place to celebrate your birthdays here in South Windsor and Manchester. You Mill on the River the Market Grill and Teds Montana grill just to name a few.  
Remember your 30th was a big deal then 40 was the new 30 well now before you have that 50th did you know the Important Birthdays over 50?

Most children stop being “and-a-half” somewhere around age 12. Kids add “and-a-half“ to make sure everyone knows they’re closer to the next age than the last.

When you are older, “and-a-half” birthdays start making a comeback. In fact, starting at age 50, several birthdays and “half-birthdays” are critical to understand because they have implications regarding your retirement income.
Age 50
At age 50, workers in certain qualified retirement plans are able to begin making annual catch-up contributions in addition to their normal contributions. Those who participate in 401(k), 403(b), and 457 plans can contribute an additional $5,500 per year in 2013.1 Those who participate in Simple IRA or Simple 401(k) plans can make a catch-up contribution of up to $2,500 in 2013. And those who participate in traditional IRAs can set aside an additional $1,000 a year.2 http://www.mundofs.com/blog 

1.     The catch-up limit is adjusted in $500 increments.

2.     If you reach the age of 50 before the end of the calendar year.

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