Your 401k contribution limit... The maximum that you can kick in stays the same this year: $17,500. If you are age 50 or older, the catch-up contribution ceiling is also unchanged at $5,500.

Only 11% of members of 401(k) plans run by Vanguard Group in 2012 contributed the basic maximum. 

U.S. stocks extended record runs on the last trading day of 2013 Tuesday, with the Dow Jones Industrial Average and the S&P 500 ending the blockbuster year with the biggest gains in more than one decade.

The Dow rose 72.37 points, or 0.44 percent, to 16,576.66. The S& P 500 added 7.29 points, or 0.40 percent, to 1,848.36. The Nasdaq Composite Index increased 22.39 points, or 0.54 percent, to 4,176. 59.

The blue-chip Dow and the broader S&P 500 refreshed their record highs once again, notching their best yearly gains since 1995 and 1997, respectively.

The Dow and S&P 500 ended 2013 up 26.5 percent and 29.6 percent, while the Nasdaq skyrocketed 38.3 percent, the biggest gain since 2009

Jonathan Clements, director of financial education for Citi Personal Wealth Management, suggests moving past the obvious and committing to these three counterintuitive money resolutions in 2014. Your wallet will thank you.

Stop trying to “save money” by shopping the sale rack. It doesn't count as saving when you buy something you don't need at a discount. "No matter how much the price is reduced, you’re still spending money," says Clements.

Open your eyes to how much you waste money. Be honest. You probably pay for groceries that end up going bad, infrequently watched cable channels, unused extended warranties, clothes you rarely wear, and subscriptions to publications you don’t read. Clements suggests using money management tools offered by your bank or a financial service like Mint.com to get a clearer picture of where your money goes. 

 Don't look at your investment accounts so often. You probably think you're being responsible by checking how your money's doing. Instead, you may just stress yourself out or overact to normal market volatility. "Looking frequently probably won’t help you make smarter financial decisions, but it could prompt you to trade too much and perhaps make panicky decisions," Clements says.

Some 1.3 million Americans, including about 222,000 Californians, lost jobless benefits Saturday as the federal program to assist the long-term unemployed expired.

Who lost benefits?

Anyone who has been collecting unemployment for more than 26 weeks loses benefits, roughly 1.3 million people immediately. Several million more people are expected to hit the limit over the course of the next year; they would lose benefits at that point. The Obama administration estimates that by the end of 2014, 4.9 million people will have been affected.

Why the change?

In good times, the federal government and the states jointly provide up to 26 weeks of unemployment benefits, paid from employer payroll taxes, to people who lose their jobs.

The idea, which dates to the 1930s, is to help laid-off workers until they can find new jobs. Well over half of Americans either collect unemployment insurance during some part of their working lives or are married to someone who does.

During periods of high unemployment, the federal government has expanded the unemployment insurance program with money from the general fund.

In June 2008, when the recession was young and the unemployment rate was 5.6%, Congress approved a 13-week extension. As the recession deepened, Congress passed additional expansions. At its peak, the program offered up to 99 weeks of coverage. It's been scaled down gradually ever since.

Why hasn't Congress extended unemployment insurance again?

Democrats have pushed for another extension, but most Republicans have opposed the idea, resulting in a stalemate so far.

Courtesy of LA Times

  Could this be the Santa Claus rally?

Time is running out for a popular tax provision that allows owners of individual retirement accounts (IRA) who are 70½ or older to save on taxes when donating to charity.

The provision, which expires Dec. 31 (though Congress could reauthorize it), allows individuals ages 70½ or older to donate up to $100,000 of IRA assets to charity without reporting the withdrawal as taxable income. By reducing taxable income, the provision can help retirees avoid or reduce a host of taxes and penalties—including many tax increases that took effect this year. It can also count toward the annual required minimum distribution that people 70½ or older must take from a traditional IRA.

Unfortunately..it can't be done from your 401k.

Years ago the Social Security Administration would send you a statement just prior to your birthday each year.  Those days are long gone and you'll need to set up an account to view your benefits

Here's the link: Social Security

 Once you've logged in you'll be able to view your estimated social security benefits available at age 62, full retirement age and age 70.  You'll also be able to see your annual earnings record and how much you've paid  in Social Security and Medicare taxes during your career.

Fidelity Investments rececently reported the average balance of all the plans they administer rose to a new high of $84,300 at the end of the third quarter.  Employees who were  continuously active in their plans saw the average balance rise over 19% to $223,100 and pre-retiree age 55 or older who have been active in their plan for at least ten years, the average balance is now $269,500.

Most 401k plans utilize 20-30 funds and Fidelity found that 1 in 3 employees are using just one fund- a 'target- date" fund.  Thes funds are ideal for a retirement saver who doesn't have time to follow the markets and choose funds.  

The police force in Nottinghamshire, England established a “Police Dog Pension Scheme” to provide benefits to its canine enforcers once they retire from active duty.

The pensions, which will max out at 500 pounds sterling per year (about $800), are primarily intended to cover medical expenses linked to work-related injuries, so in that sense the system is more like a retiree health plan than a pension plan. And the Nottinghamshire police force does appear to be facing its own mini-version of the U.S. baby-boom aging crisis, as 9 of its 26 active dogs are expected to retire in the next three years.

Courtesy of Pensions & Investments