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Take action
If you have not already done so, please consider:
- reviewing and adjusting your periodic contributions to your retirement savings accounts to take full advantage of the tax advantaged limits
- setting up new accounts for a spouse or dependent(s)
- using this time as a chance to review the status of your retirement plan
- reviewing contributions to other tax-advantaged plans like Flexible Spending Accounts (health care and dependent care) and pre-paid medical savings plans like HSAs (Health Savings Accounts)
While the annual limits did not go up for these plans in 2014, it is still a good idea to review your funding plans for your retirement.