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IRA Contribution Deadline: Don’t Miss Your Chance to Save!
Time is running out!
If you want to maximize your retirement savings, the deadline to contribute to your Traditional or Roth IRA for the previous tax year is April 15 (or the tax filing deadline). Contributing can help you build long-term wealth and even reduce your taxable income if you qualify for a deduction.
Why Contribute? • Tax Benefits – Traditional IRAs may offer potential tax deductions, while Roth IRAs may provide tax-free withdrawals in retirement. • Compound Growth – The earlier you invest, the more time your money has to grow. • Maximize Contributions – For 2025, the annual contribution limit for traditional and Roth IRAs is $6,500, with an additional $1,000 catch-up contribution for those age 50 and older.
How to Contribute Before the Deadline 1. Check Your Eligibility – Keep in mind that income limits may affect the ability to contribute to a Roth IRAs or tax deductibility for Traditional IRAs. 2. Transfer Funds ASAP – Most banks and brokerage firms allow easy contributions. 3. Label Your Contribution – Make sure to specify which tax year the deposit is for the previous tax year when making your contribution.
Don’t wait—secure your financial future before the deadline passes!
*As always, refer to your tax advisor on which IRA may be best based on your situation.
*These articles are for general information purposes only and are not intended to provide legal, tax, accounting or financial advice. Eureka Savings Bank urges its customers to do independent research and to consult with financial and legal professionals before making any financial decisions.
