Investors often make decisions about their IRA before the April deadline, despite potentially saving tens of thousands of dollars over decades. The IRS has raised IRA contribution limits for 2026 to $7,500, with an additional $1,100 catch-up for people 50 and older. Investors often contribute late or choose the wrong account type, or let their money sit in cash after funding. The procrastination penalty costs more than you realize. Automate your contributions at the start of each calendar year to give your money the maximum possible time to grow tax-advantaged. Choose the wrong IRA type for decades, while choosing Roth versus traditional ones. High earners in the 32% or 37% tax bracket may benefit more from traditional IRA contributions, which provide an immediate tax deduction. For married couples filing jointly with workplace plans, the 2026 phase-out range for deductibility of traditional IRAs is $130,000 to $150,000.