Maxed Out Your 2022 Retirement Plan Contributions? Here's Another Account to Save In
You'll often hear that it's important to push yourself to max out your retirement plan contributions. The more money you sock away in an IRA or 401(k), the more you stand to have access to in the future.
And also, traditional IRAs and 401(k) plans give you an immediate tax break on your contributions. So the more money you put in, up to the maximum allowable limit, the less tax you pay on your income.
Now at this point during the year, a lot of people are taking steps to try to eke out more money for their retirement savings so they can either max out for 2022 or get as close as possible. But what if you're already there?
Source Fool.com
