Easier to Save: $400 or $5,000?

Once again, April 15 has come and gone. For some of us, our annual short-term focus on retirement planning has gone with it. If you’re one of the folks who won’t think about their IRA contributions again until next year’s deadline, there is another way! If a traditional IRA is right for you, why wait to contribute?

Coming up with $5,000 all at once is difficult, if not impossible, for most people. Doesn’t $400 seem a lot easier? If you start now, you’ll have 12 months to come up with $5,000. That’s just over $400 a month, or less than $14 per day. There’s never a better time to start saving for retirement than today. Not only is saving more achievable, but your money begins to grow tax-deferred even sooner.