End of the Year

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So, did you maximize your Traditional IRA or Roth IRA for 2012 yet? While you COULD wait as long as next April 15th to do so, at that point most of us will still be paying off the ridiculous overspend on "the holidays." Instead, why not maximize your $5,000 or $6,000 contribution now before you run up a similar amount on your cornucopia of credit cards? If you're 50 or older, make it $6,000. If you can't do the $5,000 or $6,000, contribute what you can. If your spouse doesn't work, you can even maximize his or her IRA contribution for 2012.

Not sure about you, but I don't remember who gave me what last year--I can afford all the sweaters, ties, and books my heart desires at this point. On the other hand, watching my IRA accounts grow over time . . . now that is a gift that keeps on giving.