Psst! Want a quick win for this year's financial intentions?
Fund your IRA. Yes, that's it...
Once you have contributed, don't forget to pick an investment. IRA contributions help build your retirement with income from interest, dividends, and capital gains that can compound each year and grow tax-deferred.
Boost your saving power by automating your savings.
Or, if you can, fully fund your IRA for this year to allow for it to grow in the coming 12 months.
The annual contribution limit for 2020 is $6,000, or $7,000 if you’re age 50 or older (same as 2019 limit).
Check out IRS site for more FAQs re: IRA contribution and limits.
https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-contributions
What is an IRA
An IRA (individual retirement account) is a personal, tax-deferred account that investors can use as an easy way to save for retirement.