Who Knew that IRA’s Could Be so Useful?
If you don’t have an IRA account set up and you’re saving at a decent rate, you are letting the government take advantage of your generosity. The nice thing about this type of account is that it is considered a tax shelter and therefore a way to limit the overall amount you will have to pay in at the end of the year. Questions like how much money do you have to make to file taxes are directly affected by things like IRA accounts that act as shelters so that you don’t have to pay in as much at when the government comes calling. Don’t be afraid to use loopholes, this is what the extremely wealthy do and believe me; they expect smart people to find ways around things like this.