Money Tips: March
Consider Maxing Out Your IRA
You have until April 17th to make an IRA contribution for the 2011 tax year. The maximum contribution is $5,000 per year if you were under age 50 or $6,000 if you were 50 or older at the end of last year.
It’s hard for many people to scrape that much money together all at once. Make it easier to reach the 2012 max by setting up an automatic investment plan this month.
Reduce Investment Clutter
If you have investment accounts, 401(k)s and individual investments scattered across the financial world, consider simplifying your life by consolidating them with one provider.
You can ease your investing by turning over day-to-day decision-making to a professional. For example, a USAA Managed Portfolios — UMP™ account allows your money to be managed by an experienced investment management team, provides single year-end tax and monthly portfolio statements and adjusts to meet your changing needs.
End Paper Piles
- Switching from paper statements to electronic delivery will give you a cleaner desk and make your mailbox less attractive to thieves out to steal your identity.
- Save stamps: Pay bills easily and electronically with an online bill payment service.
- Use your mobile device to check balances, transfer funds, request an auto ID card and more.
Clean House and Cash In
After you’ve tidied your financial life, turn your focus to your home. Pick out items for a spring garage sale or for donation to charity.
While you’re at it, take the time to create an inventory of your possessions — if your property is damaged or stolen, you’ll be glad you did.