<prompt> Human: So Im currently debating whether I should contribute 5500 to the 2016 IRA before it ends on 418?. My stats are currently the following:Salary: 70K401K: 50KSavings: 30KPartner:Salary: 60KSavings: 40KIdeally we are looking for a townhouse for 250-300K and downpay 20 in 2-3 years. The wedding were looking to have in a 1-2 years is about 10K but may actually be 0 based on the monetary gifts we receive from the guests which would be great. So based on these stats, would you say I should opt out and save more or contribute 5500?We have no debt except for my car 4000 left loan and are living at home with my parents. I help out with rent and groceries 1000 monthly so our expenses are minimal besides gas and car insurance.  <response>: You have 70k in savings. You need 60k in 2-3 years and 10k in 1-2 years. It sounds like you can spare the 5500. You can also always withdraw Roth IRA contributions if you find you really need the money later, so I wouldnt skip it. You can never reclaim that tax-advantaged space. 