Maxing out your IRA is generally seen as a wise financial move -- and a huge accomplishment if you're able to pull it off. But that doesn't make it the best decision for everyone.

Believe it or not, there are times when you might be better off not contributing anything to your IRA. We'll look at some of the pros and cons of maxing out your IRA to help you decide if you want to put more money in your account before the end of the year.

You're allowed to contribute up to $6,000 to an IRA in 2022, or $7,000 if you're 50 or older. But those figures mask the true value of those contributions. They're most likely going to be invested for years -- possibly even decades -- before you withdraw them. If your investments do well, your nest egg will grow considerably over time, setting you up for a more comfortable retirement.

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Source Fool.com