Put $5,000 into an individual retirement account or Roth IRA tax shelter
If you’re over 50, put in $6,000. And make sure your spouse does too. IRAs are a great deal. A regular IRA works much like a 401(k) — your contribution may cut your taxable income, and grows tax-free inside the shelter, but it’s taxable income when you take it out. In a Roth, you contribute after-tax dollars, but then it’s tax-free forever.
Contact us to review your retirement options to make the most of your financial future.