Audio Version: Let Me Hear It!
It’s official. Last year was SO 2014. But before you put it behind you for good, make use of your prior income and give yourself one last financial gift. Fund a retirement plan for last year, this year! While the ship has sailed on making 2014 contributions to a 401(k), 403(b), and other employer- sponsored retirement plans, you still have until April 15th to contribute up to $5,500 (or $6,500 for those age 50 or over ) into a Traditional or Roth IRA (are you eligible to contribute?). If you are self-employed, you may be able to stash even more of your 2014 earnings in a SEP IRA.
If you have delayed these contributions until now, might we suggest that making earlier contributions for 2015 be put on your list of new year’s resolutions??
Key deadlines of various plans are provided below: