Maximizing IRA contributions

2020 is nearly over, which means that the deadline for contributing to your traditional or Roth IRA for tax year 2020 is approaching – but not until April 15, 2021. It’s important to keep that date in mind and prepare for it because maximizing your annual IRA contribution can help you keep your retirement savings plan on track.

The first two articles below will help you wade through the differences between traditional and Roth IRAs and understand if you’re eligible for catch-up contributions. And if you’re unfamiliar with the role an IRA can play in your retirement income strategy, check out the third article. It does a good job of explaining the variety of retirement income sources and how current retirees use those sources.

However, there’s a lot more to IRAs and effectively saving for retirement than can be explained in an email or an article. Please reach out to our office to schedule an appointment and discuss your retirement savings plan and options. We're always happy to help.

Happy holidays!