IRA contributions for 2025 can be made until April 15, 2026, with a limit of $7,000 or $8,000 for those 50 and older. A $7,000 traditional IRA contribution saves up to $1,540 in taxes for those in the 22% bracket. Make your contributions now to maximize savings.

For the 2025 tax year, the combined contribution limit was $7,000, with an extra $1,000 for those 50 and older. Roth IRAs offer a deferred tax break, while traditional IRAs provide upfront tax savings. Investing in an IRA can reduce taxable income, providing significant tax savings.

A recent study found one habit that doubled Americans’ retirement savings, making retirement a reality for many. You still have time to invest for 2025 until April 15, 2026. Take advantage of the extended deadline to boost your savings and secure your financial future.

Read more at Yahoo Finance: 2025 Is Over. But Your Opportunity to Make 2025 Investments Isn’t