IRS Annual Limits on Qualified Plans for 2017

IRS Annual Limits on Qualified Plans for 2017

Small Changes for ROTH’s in 2017

Contribution Limits Stay the Same

The total amount you can contribute to either a Roth IRA or a Traditional IRA remains unchanged at $5,500. People 50 and over can contribute an additional $1,000 for a total of $6,500.

Income Limits Adjusted Up $1,000-2,000

Direct Roth IRA contributions are only allowed if your income (technically your Modified Adjust Gross Income) is below a certain level (you can get around this limit by using a Backdoor Roth IRA). For single filers in 2016, that income threshold starts at $118,000 (up from $117,000) and ends at $133,000 (up from $132,000). In that range, your contribution is limited, eventually reaching zero. For married filers in 2016, that income threshold starts at $186,000 (up from $184,000) and ends at $196,000 (up from $194,000).

2017 Roth Limits


Savers Will Blow Your Mind

How do you know when you find someone whom is a natural born saver? They are truly an endangered species in America today because they go against the tide of our culture. So how do you spot one?

They have saved things all their lives, and money is no exception. Typically, they are saving money beginning with their very first job. They will start saving for their future right out of school and by age 25 at the latest. They are not going to wait until they are out of debt to start, in spite of many having loads of college debt to pay off.

If it comes down to making their rent or mortgage payment vs. putting what they have budgeted into their savings accounts, savers will still put what they have budgeted into their saving account.

Mind Blowing(Don’t blow your mind!  Find out for yourself what savers know)

This blows the mind of the typical status-quo American spender.  It’s much like trying to explain tithing to someone who’s never done it. It doesn’t make sense to those whom don’t do it, but the person who practices these disciplines, wins in the end.

The magic really happens when a saver marries a saver.  I’ve only seen it happen one time and that couple were millionaires in their 50’s and multi-millionaires by the time they were 60. I remember them telling me as an example of their habits, that they each took their lunch to work for over 30 years while most others went out to eat.  They would take that savings and save it.

They enjoy life but are frugal with their spending.  They never owned a new car and live in a comfortable but modest home. They serve as a great example of how to balance expense with pleasure.

So why has saving money dropped so low on most people’s priority list?  I don’t know. Peer pressure and/or our desire for immediate gratification I assume. If you agree with me that there is not a good reason for it, I invite you to stop following the status-quo spending and debt lifestyle in favor of becoming a saver.

You may not be a natural born saver, but anyone can become a saver and there is plenty of room for you. The long-term benefit is enormous and you will be glad you did.  Contact Steve McDaniel (972-768-3895) or Lonnie Hall (214-924-3120) today and we will help you make sure your savings are working hard for you. 

You only have one lifetime to get it right.

So why do I emphasize that it is not wise to put your retirement money at risk in the market?  It’s because we only have one lifetime to get it right.  Do you really want to gamble with your retirement when it’s absolutely unnecessary?

I know, we are all programmed by the massive propaganda machine from Wall Street to put our money at risk, but take a look at this video and tell me if you really feel it’s a good idea:

Lou Dobbs

So why gamble with your retirement?  It’s amazing how effective the Wall Street propaganda campaign can work. They can even make people scared to put their money where it is safe.  Imagine that!  Even otherwise conservative people who are appalled that someone would gamble money in a casino will turn around themselves and place money in the market.

Don’t fall for it any longer.  Build your wealth on the rock of safety.  Contact us today.

Steve McDaniel:  972-768-3895

Lonnie Hall:  214-924-3120

Top 10 Business Stories of 2016


Click on the image above to view short video of top business stories of 2016.

As you can see in the video, we experienced a lot of uncertainty last year. This happens every year, but the stories are just a little bit different.  Why would anyone want to trust their retirement dollars in the market? Yet so many do.  It’s not necessary.  Build your retirement on a safe foundation.


Donald’s right …about this anyway.


Regardless of how you may feel about his politics, all objective observers must admit that Donald Trump is very knowledgeable about business.

Wow! What a statement.  To put it in perspective, I encourage you to ask yourself, would you take a percentage of your income and gamble with it in a casino every week as your retirement plan? Many of us would think that plan would be not only foolish, but irresponsible.

So if putting money in the stock market is doing the same thing, why are so many people gambling with their retirement in stocks, bonds, and mutual funds?  Why is that not also foolish and irresponsible?

Many don’t know they are doing this. They are simply putting money into their 401k or IRA and not realizing that this is where their money is going.  It’s important to know that money you can’t afford to lose is not being gambled with.

Get with me and lets see where your retirement dollars are going so that we can make sure it is there for you when you need it.  Call me at 972-768-3895 or email me at today.

Building Your Wealth – Safely. Common Questions

In my last post, I introduced common questions I hear from people when we talk about building wealth without market risks. I talked in more detail about the question about if it is possible to become wealthy with this strategy.  The biggest object to get over is the propaganda you hear from Wall Street.

Another question I hear is “is it too late for me”? The answer is absolutely not!  These strategies work at any age.  Next, some people ask, “do I have to scrimp and save and basically eat spam in order to grow my money”?

Again, the answer is no.  You don’t have to change your diet to join the club.  In fact, once you discover how to finance yourself to wealth, you are likely to end up living better, while saving money at the same time.

Some people will wonder if this is just another pop culture gimmick.  Actually the truth is that the principles of this strategy have been around for many years. This strategy is great for anyone who is sick of the stomach-turning ups and downs of what I refer to as the Wall Street Casino.

We will cover the other two common questions I hear in my next post.  Meanwhile, if you are ready to build and protect your wealth on a firm foundation, contact me at 972-768-3895 or email me at

Building Your Wealth – Safely. It’s Not For Everyone.

How do you do it?  Here’s what it’s not. It’s not about stuffing your money in a mattress or hunkering down with gold bullion.

What it’s about is putting yourself on a low-risk path that will keep your money safely growing over time. Here are some of the questions people have had before joining the ranks of those who choose the safe path to wealth creation.

1. Is it really possible to become wealthy without putting my money at risk in the market? I will come back to this later in this issue.

2. Is it too late for me?

3. Do I have to scrimp and save and eat spam all the time in order to grow my money?

4. Is this just more pop culture advice?

5. Is this just another financial dead end?

6. Do I need to be a financial guru?

I will cover these and other topics in coming issues, but right now, let’s get back to the first question.  Is it possible to become wealthy without putting your money at risk?  Actually, it depends.  It’s not for everyone.

Some people are addicted to Wall Street and the excitement that the ups and downs of the market bring. They simply can not understand how their money can safely grow each and every day regardless of the economy, market, or the latest news of the day.

So if that describes you, then sorry, this plan is not for you. But if you know someone who wants some security and peace of mind in their financial future, please send them my way.  Not having an open mind is quite literally the biggest barrier a person has to overcome.  The safe way is all about overcoming the status quo and getting back to basics.

Get back with me and we can work together to make it happen for you and others you know.

A retirement plan based on an inheritance is a grave mistake.


I come across people who think they don’t need to save because they are expecting an inheritance or think their spouse is saving enough for both of them. Here is an article I found that answers this question well.  Carol writes:

Dear Pete,

Can you settle a disagreement my husband and I are having? My parents are very well off, and when they die, we stand to inherit a couple of million dollars, as long as everything goes OK. To me, this is our retirement money. My husband wants to ignore the inevitable inheritance and save aggressively for retirement anyway. I think he’s being wasteful.  The way I see it is that we can have our cake and eat it too. We can live well now, and when we inherit the money, we can live well in retirement. What do you think?

Pete (Peter Dunn) Replies:

Carol, I think I’ve met you before, several times actually. You were a 58-year-old man in Lexington, Ky., the first time we met. Then another time you were a 52-year-old woman in Rancho Cucamonga, Calif. And I definitely remember meeting you when you were a 47-year-old mother of three in Minneapolis. I always remember you based on how my body reacts to your question.

Let’s rip the Band-Aid off. You’re wrong, very, very wrong. Will you inherit $2 million someday when your parents die smoothly? Maybe. Will you still be wrong? Yeah.

To be begin, “Everything (might not go) OK.” Your parents, who are currently living, breathing humans, may lose all of their money via a series of very (un)fortuitous events. The market may crush them. Long-term health care costs may crack your nest egg. Or they may decide to do good by the money, and leave it to someone else.

Click here to read the remainder of his message to Carol.