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Make the Most of Your IRA Contributions in 2025
As we continue through 2025, now is a great time to check in on your retirement savings. Contributing to an Individual Retirement Account (IRA) is one of the best ways to build a secure financial future. Staying on top of your contributions ensures you maximize tax benefits and grow your wealth over time, whether you have a Traditional or Roth IRA.
IRA Contribution Limits for 2025
The IRS sets annual contribution limits for IRAs. Here's what you need to know for 2025:
Traditional & Roth IRAs - You can contribute up to $7,000 if you're under 50.
Catch-Up Contributions - If you're 50 or older, you can add an extra $1,000, bringing your total to $8,000.
Important Contribution Deadlines
The deadline to contribute for the 2024 tax year is April 15, 2025. If you haven’t mazed out your 2024 contributions yet, you still have time. Contributions for 2025 can be made anytime during the year up until April 15, 2026.
Why Contribute to an IRA?
Tax Benefits - Traditional IRA contributions may reduce your taxable income, while Roth IRA contributions grow tax-free, with tax-free withdrawals in retirement.
Compounding Growth - The earlier you invest, the more time your money has to grow.
Retirement Security - Regular contributions keep you on track for a comfortable retirement.
Who Can Contribute?
Roth IRA contributions depend on income. For 2025, the phase-out ranges are:
Single filers: $146,000-$161,000
Married filing jointly: $230,000-$240,000
If your income is above these limits, a Backdoor Roth IRA could be an alternative strategy.
Let’s Plan Your Retirement Strategy
At Arrow Advisors, we work with clients to create personalized retirement plans, ensuring they’re making the right IRA contributions for their financial goals. If you’re unsure how much to contribute or which IRA suits your needs, we’re happy to help.
Reach out today and let’s see how you can get the most out of your retirement savings!
The information provided in this newsletter is based on carefully selected sources, believed to be reliable, but whose accuracy or completeness cannot be guaranteed. All information and expressions of opinions are subject to change without notice and are those of Arrow Advisors.
Arrow Advisors offers Advisory Services through International Assets Investment Management, LLC.
Arrow Advisors is an independent and unaffiliated entity.
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The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. Some of this material was developed and produced by Tactive to provide information on a topic that may be of interest. Tactive is not affiliated with the named representative, broker - dealer, state - or SEC - registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.
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