As the end of the year approaches, you need to be aware of the amount that can be deposited into your investment accounts. Peoples Capital Management Financial Advisor Rick Peoples says you can put in as much as $5,000 if you are under the age of 50 and if you are over 50, you can put in as much $6,000. He says these amounts are the same if you have either type of IRA. Peoples notes you have until the tax filing deadline of next year to make these contributions into your IRA. He adds many people wait until the following year after talking with their financial advisor so the best option is made on funding the best type of IRA. He continues to say that having an IRA is not an actual investment account, but the investment that goes into the IRA is what determines the performance of the rate of return over time. If you would like more information regarding investment accounts, contact your financial advisor.
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