Tracy Wayne Mitchell is the author of The Informed Fed: A Survival Guide to Federal Employee Benefits. The book, published by Tandem House, helps federal employees transition into retirement as their working years come to an end. Tracy Wayne Mitchell serves as president of both Federal Employee Benefit Advisors and Mitchell & Associates Financial LLC in Springfield, Missouri.

1. Recent Trends in Retirement
Planning
By Tracy Wayne Mitchell

2. Introduction
• Tracy Wayne Mitchell is the author of The
Informed Fed: A Survival Guide to Federal
Employee Benefits. The book, published by
Tandem House, helps federal employees
transition into retirement as their working years
come to an end. Tracy Wayne Mitchell serves as
president of both Federal Employee Benefit
Advisors and Mitchell & Associates Financial
LLC in Springfield, Missouri.

3. About Retirement Planning
• Considering that many consultants advise
individuals to prepare for retirement with annuities
valued at approximately 70 percent of their preretirement income, investors need to remain current
on all the latest emerging trends in retirement
planning. In 2013, retirement planning consisted
largely of maximizing employee benefits packages
and fully understanding new 401k fee information.
The maximum total annual 401k contribution rose
to $17,500 in 2013 for individuals under the age of
50. This equated to an additional $142,000 over 45
years at a 7 percent average annual return.

4. Conclusion
• Higher IRA contribution limits played an equally
important part in 2013 retirement planning
trends, and these limits provided individuals
with additional tax savings. Additionally, tax
payers saving for retirement with an IRA or
similar plan could receive a tax credit between
$1,000 and $2,000. In 2013, only 21 percent of
eligible individuals were aware of the existence
of the Saver's Credit.