I’m a Financial Advisor: You’ll Never Regret Doing These 4 Things With Your IRA

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Gabrielle OlyaSun, November 2, 2025 at 5:51 PM GMT+1 2 min readIRAs offer powerful tax advantages and flexibility — but many Americans aren’t using them to their full potential. Whether you’re just starting out or nearing retirement, making the right moves now can mean thousands more in your future nest egg.Explore Next: Savings Needed To Be Rich in America’s Most Popular Retirement DestinationsTrending Now: How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, TooGOBankingRates spoke with Stephanie Temporiti, wealth advisor at Hightower Wealth Advisors in St. Louis, about the things everyone with an IRA should do to best harness all of their advantages. The IRS allows individuals to make tax-deductible contributions up to $7,000 for 2025 ($7,500 in 2026) for those under age 50 and up to $8,000 ($8,600 in 2026) for those age 50-plus. This is a great way to accumulate retirement savings during your career.Read This: How Long $2 Million in Retirement Will Last in Every StateMost young adults entering the workforce are in a much lower tax bracket than they will be later in their careers. This includes young adults and students who earn money from lifeguarding or babysitting with a summer job. Parents and grandparents can contribute on their behalf to a Roth IRA — up to 100% of their earned income or $7,000 for 2025 ($7,500 in 2026), whichever is less.Starting to save in a Roth IRA will allow those funds to grow tax-free forever, and the money isn’t taxed when it is eventually withdrawn.Use the power of a globally diversified portfolio to mitigate market volatility and harness steady returns over time. An IRA is a great tool to reallocate investments without incurring taxes, keeping your portfolio in balance for overall risk changes while keeping you on track for your financial goals.If you are a business owner, there are advantages to saving in different types of IRAs that offer additional savings for you, including SEP IRAs and SIMPLE IRAs. Work with a financial professional to understand the rules and advantages of these accounts.More From GOBankingRates5 Items With Greater Value at Dollar Tree Than Costco Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To Buy How Middle-Class Earners Are Quietly Becoming Millionaires -- and How You Can, Too 5 Things You Must Do When Your Savings Reach $50,000 This article originally appeared on GOBankingRates.com: I’m a Financial Advisor: You’ll Never Regret Doing These 4 Things With Your IRATerms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,840.20 +17.86 (+0.26%)Dow 3047,562.87 +40.75 (+0.09%)Nasdaq23,724.96 +143.81 (+0.61%)Russell 20002,479.38 +13.43 (+0.54%)VIX17.44 +0.53 (+3.13%)Gold3,996.50 -19.40 (-0.48%)PortfolioSign in to access your portfolioSign inTop gainersBHF Brighthouse Financial, Inc. 57.07 +11.38 (+24.91%)ILMN Illumina, Inc. 123.54 +24.53 (+24.78%)TWLO Twilio Inc. 134.88 +22.02 (+19.51%)TVTX Travere Therapeutics, Inc. 35.16 +5.51 (+18.58%)BFAM Bright Horizons Family Solutions Inc. 109.23 +16.95 (+18.37%)Top losersATGE Adtalem Global Education Inc. 98.02 -43.75 (-30.86%)SPSC SPS Commerce, Inc. 82.24 -21.65 (-20.84%)TBBK The Bancorp, Inc. 65.37 -11.83 (-15.32%)DXCM DexCom, Inc. 58.22 -9.98 (-14.63%)ABR Arbor Realty Trust, Inc. 10.09 -1.46 (-12.64%)Most activeNVDA NVIDIA Corporation 202.49 -0.32 (-0.16%)AMZN Amazon.com, Inc. 244.22 +21.36 (+9.58%)PFE Pfizer Inc. 24.65 +0.36 (+1.48%)OPEN Opendoor Technologies Inc. 7.77 +0.43 (+5.86%)ONDS Ondas Holdings Inc. 6.44 +0.15 (+2.38%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 110,198.42 -238.53 (-0.22%)ETH-USD Ethereum USD 3,860.57 -23.48 (-0.60%)XRP-USD XRP USD 2.50 -0.00 (-0.19%)SOL-USD Solana USD 184.44 -1.82 (-0.98%)DOGE-USD Dogecoin USD 0.18 -0.00 (-1.90%)Top economic events