i.r.a. and a 401(k) or a regular i.r.a., you're deciding whether it makts more sense to pay income tax now withoth or once you retire. in other words, you have to figure out whether you'll be in the higher tax bracket or lower one. this is a complicated question and has a lot to do with the specifics of your situation, your career, and simply how old you are. let me give you a quick thumbnail, for anyone whose marginal tax rate is 25% or less, which is most of america, i think you ought to go with a roth. better to take the hit up front then allow your roth i.r.a. todom pound tax free. for those of you who don't have the time to pick your own portfolio, the smartest thing to do is park your retirement money in a low-cost index fund that mirrors the s&p 500. as you get older you can add bonds but until you retire, stocks should make up the majority of your retirement investments. i've said this before but i'll keep repeating it until they take me off the air because it's so necessary but contrary to conventional wisdom. i want stocks, not bonds until later. how about a roth 401(k), this works ju

extra $5500 if you're 50 or older so that's $23,000 that you won't be taxed on if you put that in to your regular 401(k). if you are low to moderate income save and put money in an i.r.a. or 401(k) you may be eligible for a saver's credit up to $2,000. this is the time of year for giving and also for those who are less fortunate. make your charitable contributions and make sure you do that by december 31st. so that you will get that tax deduction. >> we know it has been a good year for the stock market. we love the stock market returns. we don't love the capital gains taxes. what do we do about this. >> you can sell the losers if you have them to offset the gains and that's a tried and true rule you should adhere to. the other thing is to delay selling winners. you don't want to add capital gains to income on and get taxed on the money. wait about that. the other thing people don't think of is mutual funds, it is great to dollar cost average in mutual funds but you don't want to buy up a bunch of shares at the end of the year. you want to make sure dollar cost averaging is great but if you're thinking about buying a bunch of new mutual fund shares you might want to ho

have changed for next year there is an opportunity for everyone to put more money away into the i.r.a. or for a 1k. 81 over the age of 50 take advantage of that bomb but. if you get to 23,000 if they stayed the same then over the age of 50. gerri: every year it is bumped up. talk about automation because if you have the chance you will never see where it has to go. >> but where did the money go in 2014? looked at your bank accounts and credit card in brokerage accounts and download -- download automatically in you can see the money now i can get you to work on a spending plan to put the money in the right place. with a financial planner we look at where is your money then we get you on track. gerri: tonight about the market's 260 points down and people are starting to say i have seen the movie before. >> the bottom line the market has been incredibly strong. so we'd be to count blessings it is truly a great time to buy on the debt. the two weeks and december historically are difficult because people take of a tax-loss. it is difficult to see this right now don't panic enjoy your weekend h

these are simple, bipartisan measures, whether it's food inventory, charitable i.r.a. or conservation easements. we know the watershed of new york city was protected by conservation easements. they couldn't do it in two weeks. and the things we can do with conservation will last decades into the future. they need the intergenerational, long-term policy to put these kinds of plans in place. and even as i mentioned earlier, with regard to food inventories and charitable i.r.a.'s, those aren't decisions you make on a whim. are you going to turn your i.r.a. over to charity? it may be a decision, do you have the ability to do that or not. not something you can do based on a couple of weeks. we are the only nation in the world that let's these things expire. i mean what the gentleman hasn't said is these items were expired for all of 2014. we are going to put them in place for the last two weeks and retroactively say you can make an easement conservation contribution, well, you can't and probably not going to do it in the next two weeks. because when the clock hits 2015, you ar

i.r.a. contribution 5500 or 6500. do it. gerri: good to see you.ng for retirement. a result from a survey coming up and how your 401k stacks up against the rest.me where'd you ever learn ♪ ♪ to fight without saying a word? ♪ ♪ then waltz back into my life ♪ ♪ like it's all gonna be all right ♪ ♪ don't you know how much it hurts? ♪ ♪ when we don't talk ♪ ♪ when we don't touch ♪ ♪ when it doesn't feel like we're even in love ♪ ♪ it matters to me ♪ ♪ when i don't know what to say ♪ ♪ don't know what to do ♪ ♪ don't know if it really even matters to you ♪ ♪ how can i make you see ♪ ♪ it matters to me? ♪ gerri: how your 401k plan matches up with 35,000 retirement plans across the country we see just how generous employers are and what kind of -- what types of offerings people are facing. are you getting the most from your 401k? we are "covering your assets". 305,000? that is astonishing you could get data on that many plans. tell me first how did you conduct a study or how long ago began how many individuals were involved? >> we've partnered with bright

i.r.a. contribution 5500 or 6500. do it. gerri: good to see you. america is just not saving for retirement. a result from a survey coming up and how your 401k stacks up against the rest.@? gerri: how your 401k plan matches up with 35,000 retirement plans across the country we see just how generous employers are and what kind of -- what types of offerings people are facing. are you getting the most from your 401k? we are "covering your assets". 305,000? that is astonishing you could get data on that many plans. tell me first how did you conduct a study or how long ago began how many individuals were involved? >> we've partnered with bright scope food took data from all these plans they have been building this database for a while so we could sit down to look at plans through the middle 2000's to see how employees are doing and though the plants are doing it is the largest data set ever to be analyzed. gerri: i want the details. so start with the company match. what did you learn? >> first of all, four of five employers are giving some kind of contri

i.r.a. contribution 5500 or 6500. do it. gerri: good to see you.iddle-class america is just not saving for retirement. a result from a survey coming up and how your 401k stacks up against the rest. 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. @? so ally bank really has no hidden fethat's right. accounts? it's just that i'm worried about you know "hidden things..." ok, why's that? no hidden fees, from the bank where no branches equals great rates. gerri: how your 401k plan matches up with 35,000 retirement plans across the country we see just how generous employers are and what kind of -- what types of offerings people are facing. are you getting the most from your 401k? we are "covering your assets". 305,000? that is astonishing you could get data on that many plans. tell me first how did you conduct a study or how long ago began how many individuals were involved? >> we've partnered with bright sc

we allow people to save for their retirement through a tax-free savings account called an i.r.a. or 401-k. and we allow people to save for their health insurance by the creation of health savings accounts. so it only seems fair to me and all of us that we would provide the same sort of treatment to those individuals that are less fortunate than we are. now we have a situation where the able accounts will open the door to a brighter future to millions of americans. it will give those individuals a chance to realize their hopes and their dreams, to be part of the american dream, to be able to achieve their full potential. and i can't think of anything that is more rewarding, i can't think of any greater privilege than to speak out for people that can't always speak for themselves. and this able act will bring justice, it will bring peace of mind to millions of american families who live with disabilities every day. and i think that's something worth fighting for. i yield back. the speaker pro tempore: the gentleman yields back the balance of his time. the gentleman from michigan, mr.

i.r.a., roll that over. no need to leave it where you are not going to pay attention to it. if you are retired ornherited a retirement account, take your required distribution. >> how people can maximize the income, what do you suggest? >> if you want to live the lifestyle you want to live, you have to figure out how. review the goal. did you make the money you wanted to make or did you not? figure out what steps you want to take. you are going to have a slow week. talk to your boss to see if there are projects to take on or how to increase your new mexico. set the january reports. while everybody else is on vacation, you can set appointmen appointments. add a stream of revenue. you never want to be dependent on one job. if you do that, you will have a happier 2015. >> set yours while on vacation. >> on the beach. >> exactly. some good resolutions. thank you for sharing your year end financial advice. >> thanks for having me. >>> well, a lot of travel problems for the next 24 hours. already seeing two-hour delays at philly international. tonight into tomorrow, a first alert weather day for fog ac

i.r.a. all with the s&p 500. my question is do you think it might be a good time to go to a cash position, buy it back on a dip, or fund with dividends? and if so, what category would you suggest? >> no, at his age i want him to stay in. i want him going in and out. what happens if that's the one month where the market really takes off? peter lynch taught us that. the great fidelity manager. one up on wall street. describes how if you get in and get out like that when you're a younger person you may miss the one window where all the growth happens that year. tell him to stay the course. dividends and conquer. if you want to be prepared for every kind of market out there, make sure you own at least one high-yielding stock. and of course stick with cramer. >>> the discipline of a new diversified portfolio always, always trumps your convictions about where stocks are headed. by never having all your stock eggs in one sector basket you'll never have to suffer through the agony of watching everything you own get crushed when that basket gets run over by a truck. [ baby crying ] you need old-fashioned growth names, spec

or could do. it does little to provide certainty to individuals and businesses for 2015. my constituent, mary jo steele will not know whether she can give money from her i.r.a. to a chicago charity without tax liability in 2015, nor does my constituent henry know if he can receive enhanced tax benefits for donating food to the chicago food depository. further, i am deeply disappointed that this bill fails to extend the trade adjustment assistance for health care workers laid off through no fault of their own. however, i believe that this bill may be our only option for this year. to provide these tax benefits for 2014. and to ensure that taxpayers can begin filing their taxes and receiving their funds early next year. there are many provisions included that are critical to chicago and illinois and that must be covered in 2014. this is not the best bill but it is a necessary bill. i look forward to working in a bipartisan way to ensure comprehensive, permanent reforms for the tax code that help all americans, including provisions that help the lowest income workers such as the earned income tax credit and the enhanced child tax credit. and i end, mr. chairma

i.r.a.. it also added a catch-up contribution feature to allow workers to contribute several thousands of dollars more beginning in their fifties when they start to get serious about savings or for those spouses have the opportunity to say it again. congress believed it was important to increase the amount of the employee deferrals under the plans and a better enable participants to say bandit reap -- it worked. retirement assets rose from $3 trillion to nearly 6 trillion despite the market's downturn in 2008 for his grown-up to 6. $5 trillion in increased contribution limits work so well that congress made it permanent and it was overwhelming 93 to five. bid last 25 years democrats and republicans work together with a mutually shared goal and republicans agree to a small business owners need to haveinners need n the game to take on the burdens to maintain a retirement plan. will leave the i become concerned to turn pension policy in to another piece of background and retirement policy as another friend -- another front for congress. i read to disregard that bipartisan bill would be unfortunate mr. chairman what i hope to hear today is a policy consideration we need to know