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realoldsfguy
New Member

I'm 78 years old, still fully self-employed - Can I continue making contributions to my SIMPLE IRA?

 
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Zbucklyo
Level 9

I'm 78 years old, still fully self-employed - Can I continue making contributions to my SIMPLE IRA?

Yes, you can.  However, since you are over age 70 1/2, you must also make a required minimum distribution from that same SIMPLE IRA.

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Zbucklyo
Level 9

I'm 78 years old, still fully self-employed - Can I continue making contributions to my SIMPLE IRA?

Yes, you can.  However, since you are over age 70 1/2, you must also make a required minimum distribution from that same SIMPLE IRA.

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