You May Have More Time Than You Think to Max Out 2021 IRA Contributions

An Individual Retirement Account (IRA) allows you to make yearly tax-deductible contributions, provided your income isn't too high. In 2021, you can make deductible investments of up to $6,000 in an IRA or $7,000 if you're 50 or older.

Maxing out this account allows you to take full advantage of the tax savings Uncle Sam provides to build a secure future in your later years. It can also go a long way toward giving you the financial security you deserve as a retiree.

Unfortunately, you have limited time to make your contributions to take advantage of the 2021 IRA deduction. But, the good news is, you may have more time than you think.

Source Fool.com