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Blog Series: Retirement Account Contributions and Distributions After age 70 ½

By Theresa Fry [1], Senior Vice President and Manager, IRA and Retirement Plans

Part 1 of a 2-part series.

Retirement means different things to different people.  Your age when you retire can be impacted by many factors such as your health, your love of the work you do, your need for financial stability, or even your desire to stay active and part of something bigger than yourself.  If you have decided to continue working into your 70’s or beyond, it’s important to understand what that decision means when it comes to your retirement savings accounts.  In our first article in this two-part series, we will address retirement account contributions after age 70 ½.

Traditional IRA Contribution Must Stop, but Roth, SEP IRA, SIMPLE IRA and Retirement Plan Contributions May Continue until Retirement.

In our next article, we will discuss how required minimum distributions are impacted by continuing to work after age 70 ½.

This piece is intended to provide accurate information regarding the subject matter discussed. It is made available with the understanding that Benjamin F. Edwards & Co. is not engaged in rendering legal, accounting or tax preparation services. Specific questions on taxes or legal matters as they relate to your individual situation should be directed to your tax or legal professional.