A Gift for the Giving

Not only does the new federal Pension Protection Act give wage-earners higher limits on their retirement contributions, it also gives some charitable seniors a break on their taxes.

The law gives individuals over 70 ½ the option of contributing retirement savings directly from their IRA to a charity without paying income taxes on the distributions. The rule (which is effective only for 2006 and 2007, unless renewed by Congress) is particularly attractive for individuals who must take required minimum distributions.

But before you make a donation to your favorite charity, you should talk to your financial planner about the best approach to maximize your tax savings.

New Rules Raise IRA
Contribution Limits

You will be able to put more of your earnings into a tax-advantaged retirement savings plan in the years ahead, thanks to the recently enacted Pension Protection Act of 2006. The law gives wage earners the opportunity to contribute up to $4,000 to an IRA in 2006 and 2007 and $5,000 in 2008. It also allows individuals 50 and over to contribute an additional “catch-up contribution” of $1,000 a year over and above the standard limits.

The contribution limit for 401(k) plans also increases by $500 in 2007 to $15,500—and $20,500 for those 50 and over.

Talk to your financial planner to learn how you can get the most from your tax-advantaged retirement savings plans.

One Buck Can Last A Lifetime
Presented by Wealth Enhancement Group
and The Hartford

January 25 @ 6:00 PM
Maggiano's Little Italy
2465 Southdale Ctr
Edina, MN 55435

To register for this seminar, please call
1-800-487-1952 or visit wealthenhancement.com

Wealth Enhancement Group has helped thousands of Minnesotans plan for a comfortable retirement. With a team of experts well-versed in financial planning, investment management, and maximizing tax strategies, Wealth Enhancement Group will help you achieve the life you imagined.  

The psychology of money has changed in recent years. Trust in financial institutions and confidence in business and our government has eroded.

In the late 1990’s almost anyone could be a financial genius. The spectacular returns on investments were unsustainable, yet conditioned many people to harbor unrealistic expectations and spawned dreams of riches that may have been illusions.  Then 2000-2002 brought people back to reality.

At Wealth Enhancement Group we try to provide a realistic foundation for expectations about your financial future in an unsettled and often scary climate.

CLICK HERE to get your free copy of our 24-page retirement booklet, “Planning for Retirement – Strategies for Your Life, Your Finances, and Your Future”. In this booklet, you’ll learn more about strategies and options for your future.