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.
The maximum amount you can add to an IRA in a single year is $5,000. Once an individual is 50, the limit rises to $6,000. If you have more than one IRA account, this limit applies to your combined contributions to all IRA accounts, not to each IRA separately. When both partners in a marriage contribute to IRAs, they can contribute $5,000 to each spouseâs IRA for a combined total of $10,000 per year. If one spouse is at least 50, the combined maximum is $11,000.