Here are the guidelines for 2016: For more on whether to choose a traditional IRA or a Roth IRA, see Which is better for me, a Roth or traditional IRA?

A traditional IRA is a tax-deferred retirement savings account. You pay taxes on your money only when you make withdrawals in retirement. Deferring taxes means all of your dividends, interest ...

Retirement planners often debate whether to max out a 401(k) or prioritize a Roth IRA. A mathematical analysis reveals that, contrary to popular advice, maxing out a 401(k) before investing in a ...