Make IRA contributions early to create significant wealth.

While the tax law lets you make a deduction for the year as late as the due date of the income tax return for that year, the earlier you make the contribution, the more time there is for compounding of investment returns. Best strategy: Assuming you are eligible to contribute to an IRA, making your contribution at the start of the year creates 15½ months of additional compounding opportunity. Repeated annually, this can mean thousands of dollars in additional retirement income for you.