Guest Column
By Gabby Northrop, Financial Advisor, Three Pines Wealth Advisors
Have you taken full advantage of your IRA this year? If not, there’s still time—but not much.
If you’re eligible, you can contribute to a traditional or Roth IRA up until the tax filing deadline. April 15 isn’t just the cutoff for filing taxes—it’s also the deadline for making IRA contributions that count for 2025. Filing an extension gives you more time for paperwork, but not more time to fund your retirement.
That means there’s still an opportunity to boost your long-term savings and potentially capture meaningful tax advantages. For 2025, the maximum IRA contribution is $7,000—or $8,000 if you’re age 50 or older. Depending on your income and eligibility, those contributions may reduce your taxable income today or grow tax-free for the future.
Think of retirement planning like preparing for a long road trip. You don’t wait until you’re out of gas to start planning your next stop. IRA contributions are part of preparing early—making sure you have what you need before you’re forced to react.
The good news is that retirement planning doesn’t have to be complicated. It starts with giving your money a purpose. Dollars without a plan tend to stay idle—and over time, that can be costly.
If you’re unsure how much you can contribute or which type of IRA makes the most sense for your situation, now is the time to have that conversation with your financial planner. With the April 15 deadline approaching, a short review today can make a meaningful difference in both your current tax picture and your long-term financial plan.