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Client Profile

George is 71 years old and has returned to work after three years of retirement. He wants to put a little more money away for a comfortable retirement. Where can he still save at 71?

George owns a traditional IRA that required him to begin required minimum distributions by April 1 of the year after he turned 70½, whether he went back to work or not. However, he can contribute to a Roth IRA after that age to the extent he has earned income, within limits.

People who continue working and contribute to a SIMPLE IRA or 401(k) plan can continue to contribute to them after age 70½. However, they also may be required to begin RMDs.

George will owe tax on some or all of his employment earnings if his pay from work and other income exceeds certain limits. If George were younger than retirement age, say 62 to 65, he would likely also lose a portion of Social Security benefits during this time due to work income exceeding low limits.


Client Profile is based on a hypothetical situation. The solutions we discuss may or may not be appropriate for you.

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