1 Preparing for homeownership. 2  Managing your money. 3  Understanding the importance of credit. 4  Qualifying for a mortgage. 5  Shopping for a home. 6  Available down payment and closing costs programs.  Protecting your investment.
SIMPLE 401k and SIMPLE IRA Contribution Limit. SIMPLE 401k and SIMPLE IRA plans have a lower limit than 401k plans. It will also stay the same at $12,500 in 2016. If you are age 50 or over, the catch-up contribution limit will also stay the same at $3,000.
In addition, married workers can also contribute to a spousal IRA on behalf of their spouse if that spouse did not have any earned income that year. Regardless, income from interest, dividends, and capital gains alone does not permit a person to contribute to an IRA. How Much You Can You Contribute to an IRA? Provided your compensation is at least as much as the amount of your contributions, taxpayers under 50 years old may currently contribute up to $5,500 per year to their IRA(s). Those at least 50 years old by the end of the tax year may contribute an additional $1,000 in catch-up savings annually for a total of $6,500.