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posted Jun 6, 2019 3:42:40 AM

Can I fund an existing traditional IRA? I have earned income but I am 77 years old and currently adhering to MRD requirements.

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Level 15
Jun 6, 2019 3:42:40 AM

You cannot contribute to a Traditional IRA in the year that you turn 70 1/2 or beyond.   There is no age limit for Roth IRA contributions.

When you are 70 1/2 you must start taking money out of a Traditional IRA (RMD) and cannot put any more money in.

1 Replies
Level 15
Jun 6, 2019 3:42:40 AM

You cannot contribute to a Traditional IRA in the year that you turn 70 1/2 or beyond.   There is no age limit for Roth IRA contributions.

When you are 70 1/2 you must start taking money out of a Traditional IRA (RMD) and cannot put any more money in.