Fully fund your IRA by April 18, 2017
Since tax season is upon us, I am sending a quick reminder that you may want to consider fully funding your IRA before the April 18 tax deadline. This can help you maximize tax-advantaged savings opportunities. Funding your Individual Retirement Account (IRA) before the April 18 tax deadline can be an important step toward reaching your retirement goals because you can make use of tax-advantaged savings opportunities. Benefits of maximizing your contribution include:
· Possible tax benefits
· Potential advantages for estate planning/beneficiaries
· Potentially tax-free income when you contribute to a Roth IRA
· The ability to achieve the retirement lifestyle you've envisioned
The maximum annual contribution for 2016 is $5,500. If you are age 50 or older, you can make an additional $1,000 catch-up contribution for each year. This catch-up contribution allows you to set aside more for retirement and helps you expand your savings. With personal service,
Financial Advisor
