When preparing to buy your first home or you are entering back into homeownership, itâs important to plan ahead so you can manage your finances and be a successful homeowner. Take advantage of a Homebuyer Education course offered by Springboard. Itâs approved by HUD, FreddieMac, and FannieMae, and can qualify you for reduced rates with some lenders, down payment loans, and other specialty programs. Get an in-depth look at the following: Preparing for homeownership.
Retirement Topics - IRA Contribution Limits. For 2015, 2016, and 2017, your total contributions to all of your traditional and Roth IRAs cannot be more than: $5,500 ($6,500 if youâre age 50 or older), or. your taxable compensation for the year, if your compensation was less than this dollar limit.
If you are married and file a joint return, you may contribute to your IRA even if you don't have earned income but your spouse does. The limit goes up to $6,000 when you turn 50 years old. Any contribution that is more than these limits counts as excess. You can't contribute to a traditional IRA after age 70 1/2. If you do, the IRS counts it as an excess contribution.