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Help support Wordnik (and make this page ad-free) by adopting the word saver's.
Examples
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As of the end of November 2010, there would be almost $52,000 in that account, with just $30,470 of that money coming from the saver's own pocket.
Slow and Steady Saving Still Pays Tom Lauricella 2011
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The income limits also are going up for low- and moderate-income workers seeking the retirement saver's credit.
A Tasty New COLA for 2012 Kelly Greene 2011
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One response to such inertia has been the spread of target-date funds, which rebalance automatically as the participant nears retirement age, and target-risk funds, which are managed and rebalanced according to a saver's risk tolerance, as opposed to his age.
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Funding an IRA and triggering the saver's credit also can be a way for parents and grandparents to give their working kids a leg up on the future without a direct handout.
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Subtracting a $1,000 saver's credit from that reduces taxable income to zero.
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The saver's credit, together with an IRA or retirement-plan contribution, can deal a triple blow to your tax bill.
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They can help fund the young person's IRA, which triggers the saver's credit and the tax savings.
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Here is an option for young workers -- and their parents and grandparents -- to consider: The saver's credit helps you save on your taxes if you're a low-wage earner and contribute to a retirement account.
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The maximum saver's credit is $1,000 per person per year.
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The saver's credit, subtracted from your tax, reduces what you owe even more -- perhaps to zero.
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