About Brooke Peterson

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So far Brooke Peterson has created 19 blog entries.

The (Queen’s) Gambit of Investing

Netflix has another mega hit on its hands with the recent release of The Queen’s Gambit, which is now the streaming service’s most-watched scripted limited series to date with 62 million views in the first month. The show follows chess prodigy Beth Harman on her journey to become the world’s best chess player. [...]

2021 Retirement Plan Contribution Limits

With a new year on the horizon, the IRS has released the inflation-adjusted retirement savings limits for 2021. While many of the limits remain unchanged, there are a few updated figures to take note of. 401(k)/ 403(b) Plans The annual contribution limit remains unchanged at $19,500. The catch-up amount of those

CARES Act Reminder: RMD Rollbacks

The CARES Act was passed back in late March to provide economic relief during the Coronavirus pandemic. An important piece of the initial legislation was the waiver of required minimum distributions (RMD) for 2020. The initial legislation did not include relief for those who had already taken a portion or the full RMD prior to [...]

3 CARES Act Highlights for your Retirement Accounts

The Coronavirus Aid, Relief, and Economic Security, known as the CARES Act, was signed into law on Friday, March 27, 2020 and has several provisions that relate to your retirement accounts. Below are 3 highlights and how they can impact your retirement accounts. RMDs are Suspended for 2020 The required minimum [...]

3 Ways the SECURE Act Will Affect Your Retirement Account

The SECURE Act, Setting Every Community Up for Retirement Enhancement Act, has passed in Congress, along with the nearly $1.4 trillion spending bill for FY 2020. This is the first major piece of retirement legislation in a decade. The legislation affects employers, but here we are [...]

2020 Retirement Savings Contribution Limits

The Internal Revenue Service (IRS) has announced its 2020 cost-of-living adjustments (COLAs) for retirement plans. While some retirement plan limitations will stay the same for 2020, many key limitations will increase next year, including the participant contribution limit. [...]

4 Reasons why Millennials are the New Face of the Retirement Crisis

Recently #millennialretirementplans was trending on Twitter. The “retirement plans” that were mentioned were not your typical blend of Social Security and retirement plan assets. The “plans” were much more dismal, with major concerns over healthcare costs, Social Security running out, lack of savings, and climate change. [...]

How the Save4College State Contribution Program Can Help You do Just That

Saving for college can be a challenge for many families, but the state of Maryland, through the Save4College State Contribution Program, is helping families make those college dreams come true. The goal of the program is to encourage families to contribute to their children’s future education through a 529 plan. [...]

4 Ways to “Marie Kondo” Your Finances

Netflix’s hit show “Tidying Up With Marie Kondo” has viewers looking through their closets, picking up each item and asking themselves, “Does this spark joy?” If the answer is yes, then that item gets to stay. But if the answer is no, then it goes into the donate pile. The KonMari Method™ is all about [...]

2019 Retirement Savings Contribution Limits

With 2019 quickly approaching, the IRS has released its cost of living adjustments affecting the dollar limitations for retirement-related items in 2019. With 75% of Americans relying solely on their work sponsored retirement plans for their retirement income, it is important to save as much money as possible for retirement. [...]

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