3 IRA Mistakes to Avoid in 2020

Though Social Security will help you pay the bills once you retire and give up your paycheck, those benefits alone can't sustain you. That's why you need savings of your own, and if you don't have access to a 401(k) through your job, an IRA is another great option for building a nest egg. But the last thing you want to do is mismanage that account in the coming year and put your retirement at risk as a result. Here are three big IRA mistakes to steer clear of to avoid that fate.

The more money you put into your IRA, the greater your chances of retiring with enough of a nest egg to cover your senior living costs without stress. But if you don't know how much money you're entitled to contribute, you could end up underfunding your account.

IMAGE SOURCE: GETTY IMAGES.

Continue reading

Source Fool.com