You may want low tax rates to continue, but waiting too long to find out if that's really going to happen could have important consequences for your retirement savings.
Sure, most Americans want some aspect of the Bush tax cuts extended, according to a recent Gallup Poll, but the jury is still out on how it will break down—whether all, some or none of the tax cuts will be extended.
Don't procrastinate on your own tax decisions waiting for President Obama's economic advisers and members of Congress to negotiate in Washington.
For some IRA investors, waiting a month or more may mean missing out on another potential tax break that could result in substantial savings.
"When it comes to your retirement account and processing certain transactions, IRA custodians usually have a cut off date that's a couple of weeks or a few weeks before the end of the year," says Denise Appleby of Appleby Retirement Consulting in Grayson, Ga.