How Old Is Too Old to Benefit from a Roth IRA?

If you are still working and earning an income, it might never be too late to take advantage of the tax benefits that Roths offer.

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A recent pension reform proposal made it through the House, and a similar bill is working its way through the Senate. A provision in the SECURE Act removes the 70½ age limit cap on traditional IRA contributions. If this provision becomes law, it will give older workers another option for saving on a tax- advantaged basis.

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David A Littell, JD, ChFC
Professor of Taxation, The American College of Financial Services

Dave Littell is the co-creator of the Retirement Income Certified Professional® (RICP®) program and a Professor of Taxation at The American College of Financial Services. He focuses on retirement income process, strategies and solutions to increase retirement security for consumers, business owners and their advisers through digestible retirement education.