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.
Traditional IRA. As of the time of publication, the IRS allows you to contribute $5,000 per year to a traditional IRA if you are under age 50, and $6,000 if you are 50 or older. You can contribute the maximum amount even if you are covered by an employee-sponsored retirement plan at work, such as a 401k.