Many of us are in the midst of completing our taxes for 2022. If you have not filed yours yet and have not fully funding your IRA or Roth, you still have time. If you are single and have a company retirement plan but make less than $73,000, you can still make an IRA or Roth contribution of $6500 if under age 50, or $7500 if over age 50. If you are married and file jointly, the income phase-out starts at $116,000.

If you contribute to an IRA, you will pay less in tax now, to a Roth, you will pay no tax at withdrawal if the funds are in the account for five years or more.

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