3 Investing Moves to Make by the End of 2020
It’s fair to say that 2020 has been a miserable year for many of us, so much so that at this point, a lot of people are probably ready to wish it away. But for better or worse, we only have about 11 weeks to go before this tumultuous year comes to a close, and that means your window of opportunity is narrowing to make smart investing decisions that could set the stage for a much more positive 2021. Here, in fact, are a few investing moves you should prioritize before the new year arrives.
The more money you put into your retirement account, the more you stand to have on hand once your career ends. But that’s not the only reason to max out your IRA or 401(k) this year — there’s also a major tax break involved. If you fund a traditional IRA or 401(k), as opposed to a Roth savings plan, your money will go in on a pre-tax basis, thereby sparing a portion of your income from the IRS’s grasp.
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