The end of the year is approaching and there are some tips for those who would still like to create investments.
Adam Mangold, Financial Representative with Northwestern Mutual Financial Network says if you are thinking about wanting to do an IRA, you have to open that account before the end of the year. He says you have until April 15th of next year to put funds into that account and have it be credited toward this year’s taxes.
In terms of starting too late for investing, Mangold says it’s not too late. He says 401K and IRAs have provisions that allow for extra contributions to be made to help make up for lost time. Mangold notes to talk with a financial advisor as well as your accountant before making any sort of investment plan.