Make retirement plan contributions early

With retirement plan contributions, it’s the early bird who maximizes tax-deferred earnings. Make your contributions as early in the year as you can. For 2015, you can contribute up to $5,500 to an IRA ($6,500 if you’re 50 or older). The limit for 401(k) contributions increases in 2015 to $18,000 ($24,000 if you’re 50 or older), and the limit for SIMPLE contributions is $12,500 ($15,500 if you’re 50 or older).