Is There an Age Limit for Funding an IRA or Roth IRA?

Are there age limits for who can fund an IRA or a Roth IRA? Have a question you want to be answered on the show? Call or text 574-222-2000 or leave a comment! Want to speak with a Certified Financial Planner™? Visit or call 574-247-5898. Find more information about the Wise Money Show™ at Be sure to stay up to date by following us! Facebook - Instagram - Twitter - Want more Wise Money™? Read our blog! Listen on Podcast: Subscribe on YouTube: Mike Bernard, CFP® offers advisory services through KFG Wealth Management, LLC dba Korhorn Financial Group. This information is for general financial education and is not intended to provide specific investment advice or recommendations. All investing and investment strategies involve risk including the potential loss of principal. Asset allocation & diversification do not ensure a profit or prevent a loss in a declining market. Past performance is not a guarantee of future results....(read more)

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Individual Retirement Accounts (IRAs) and Roth IRAs are popular investment vehicles for individuals looking to save for retirement. However, many people wonder if there is an age limit for funding these accounts. The good news is that there is no upper age limit for contributing to a traditional IRA or Roth IRA. As long as you have earned income, you can contribute to these accounts. However, there is an age limit for making contributions to traditional IRAs. If you are under the age of 50, you can contribute up to $6,000 to a traditional IRA or Roth IRA in 2021. If you are 50 or older, you are allowed to make "catch-up" contributions of up to $1,000, bringing your total contribution limit to $7,000. On the other hand, if you have a traditional IRA and you are 72 or older, you must begin taking required minimum distributions (RMDs) from the account each year. Roth IRAs, however, do not have RMDs, so you can continue to contribute to the account for as long as you have earned income. It is also worth noting that there are income limits for contributing to a Roth IRA. In 2021, if you are single, your modified adjusted gross income must be less than $140,000 to contribute the full amount to a Roth IRA, and if you are married filing jointly, your income must be less than $208,000. Overall, there is no upper age limit for contributing to an IRA or Roth IRA, but there are income and age limits for making contributions and taking distributions. It is always a good idea to consult with a financial advisor to determine the best retirement savings strategy for your individual needs and circumstances. https://inflationprotection.org/is-there-an-age-limit-for-funding-an-ira-or-roth-ira/?feed_id=78688&_unique_id=641316146a462 #Inflation #Retirement #GoldIRA #Wealth #Investing #agelimitforira #agelimitforrothira #financial #isthereanagelimitforfundinganiraorrothira #korhorn #RothIRA #wisemoneyshow #RothIRA #agelimitforira #agelimitforrothira #financial #isthereanagelimitforfundinganiraorrothira #korhorn #RothIRA #wisemoneyshow

"Is Birch Gold Group a Reliable Choice for Your 2023 Gold IRA Investments?" - A Quick Review #shorts

In this Birch Gold Group review video, I go over what makes this Gold IRA company unique, the pros and cons, their fees, minimums, and much more. Get their free guide here: 👉 FREE Resources: ➜ Gold IRA Company Reviews: Birch Gold Group boasts high ratings from consumer advocate groups. With an A-plus rating from the Better Business Bureau, a triple-A rating from the Business Consumer Alliance, and high marks from Trust Link, Trustpilot, and Google Business, Birch Gold is a top choice to trust your hard-earned retirement savings. Birch Gold Group’s low initial investment minimum is another edge it has over its competitors whose minimums can range from $25,000 to $50,000. A beginning $10,000 minimum investment is all that is required to start a GOLD IRA with Birch which is advantageous for first-time investors. Spanning nearly two decades, Birch Gold Group’s mission and philosophy focus on a commitment to understanding your needs and finding the right fit for you. Their

New York Times Company Continues to Add Online Subscribers at a Steady Clip

Business News by Timothy Sumer - The company’s first quarter results showed total paid subscriptions reaching 4.5 million. Online ad revenue rose 19 percent, to $55 million, thanks, in part, to “The Daily” podcast. from NYT > Business https://nyti.ms/304QC2w via Timothy Sumer

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom

Should I Rollover My 401k to an IRA? YES! #shorts #retirement #financialfreedom Should I Rollover My 401k to anIRA 🤔 || 401k to IRA Rollover Pro's & Con's In this video, I want to talk about rolling over your 401k to an IRA Rollover and if that makes sense for your retirement planning . I want to look at the pro's to rolling over a 401k and also the con's to rolling over a 401k. When you should rollover your 401k to an IRA and when you should NOT rollover your 401k to an IRA. Let's talk about when you should NOT rollover your 401k to an IRA: 1. You are still working and are under the age of 59.5 2. You are 55 and considering retirement (Rule 55) 3. Increased creditor protection in a 401k 4. 401k's offer loans--IRA's do not offer loans Why you SHOULD rollover your 401k to an IRA 1. More investment choices in IRA over 401k 2. Lower investment fees 3. Convert IRA to Roth IRA (Roth IRA Conversion) 4. Consolidation from multiple 401k'

Timothy Sumer

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