Maximizing your retirement plan??

Retirement plan contribution:

You can contribute up to $17,500 to a 401(k), 403(b), 457 or Thrift Savings Plan in 2014, plus $5,500 if you turn 50 anytime during the year.  See if you can afford to boost the percentage of your income you contribute each month, especially if you haven’t been making the most of any match offered by your employer. Bottom line is: Max out your monthly contribution if you can!

Keep in mind that the money you contribute pre-tax lowers your take-home pay less than you’d expect—if you’re in the 25% tax bracket, for example, contributing $1,000 to a 401(k) will lower your take-home pay by just $750.  And look for extra opportunities to save.  Some public universities and other employers offer both 403(b)s and 457s and let you contribute up to $17,500 to both plans.  And if you have a public sector 457 and are nearing retirement, you may have extra catch-up options — see rules for 457 Retirement Plans for details (those plans will not apply to everyone)

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