With the tax filing deadline approaching, have you considered contributing to an Individual Retirement Arrangement (IRA)? IRAs are one of the most powerful retirement savings tools available to you. Even if you're contributing to a workplace retirement plan, you may want to consider investing in an IRA. You may be eligible for a full or partial federal tax deduction with a traditional IRA.
After market-risk and inflation-risk, taxation-risk presents the biggest obstacle to building wealth. A sound investment strategy seeks not only to generate returns on your capital, it also seeks to preserve as much of your capital as possible to keep it working for you. One of the surest ways to preserve your capital is to reduce the amount of taxes you pay on investment income and gains.