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.
The Individual Retirement Arrangement, or IRA, was first introduced in 1974 as a way to encourage workers to save for retirement. As of 2010, you can deduct up to $5,000 in contributions to a traditional IRA, and an additional $1,000 if you are over age 50. SIMPLE IRA plans are workplace plans for small businesses.As of 2010, you can contribute up to $11,500 to a SIMPLE IRA, and an additional $2,500 if you are over age 50.Contributions to SIMPLE plans don't count against your eligibility to make tax-deductible contributions to traditional IRAs.s of 2010, you can deduct up to $5,000 in contributions to a traditional IRA, and an additional $1,000 if you are over age 50. SIMPLE IRA plans are workplace plans for small businesses.