7 Money Moves You Should Hurry To Make Before the Year Is Over

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The contribution limit in 2024 is $23,000, or $30,500 if youre age 50 or older.

Alternatively, you may want to invest in afuture tax breakinstead, he said.

Since contributions to Roth IRAs are made with after-tax money, investments grow tax-free indefinitely.

This could be a prudent move if you anticipate being in a higher tax bracket in the future.

Better yet, Roth IRAs arent subject torequired minimum distributions(RMDs).

in a taxable brokerage account that have declined in value, consider selling them, Kearns recommended.

Selling these investments will realize the losses, thus offsetting any realized capital gains, he said.

Losses in excess of $3,000 will be carried forward to the next tax year.

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