You might not believe it, but when it comes to retirement, Uncle Sam has your back. The proof is in the tax advantages you get by contributing to individual retirement accounts (IRAs).
Understanding how IRAs can help grow your retirement nest egg—and benefit you on tax day—is a smart money move. Even if you’re paying off student loans and have other debt obligations, allocating some money toward retirement during your early working years is crucial. The earlier you start, the longer your money has to grow. Your sixty-year-old self will definitely thank you for investing as much as you can now.
You can still make a contribution for the 2016 tax year, but you must open an account and contribute by tax day, which is April 18, 2017. Deadlines can be daunting, but don’t worry. We’ve got you covered.Read more