Financial Advice Q&A

New Member
Ms Logsdon
Posts: 2
Roth contribution limit

I am 72 years old, still employed and want to know what the yearly contribution limit is to my Roth. Is there an age when I can no longer contribute to my Roth as long as I'm employed?

Other Answers: 1
Community Manager
Posts: 888

One of the many great attributes of Roth IRAs is that there is no maximum age at which you can no longer make contributions. As a 72 year old in 2013, as long as you've got taxable compensation for the year, you're permitted to make Roth IRA contributions of up to 100% of that compensation or $6,500, whichever is LESS. Note that if you were under age 50, the limit would have only been $5,500.


This is one of the big differences between Traditional IRAs and Roth IRAs. With traditional IRAs, beginning in the year you reach age 70 1/2 (and all later years) the IRS no longer permits you to make contributions. Instead, you've got to start taking withdrawals. There is no such requirement for Roth IRAs. Again, you can keep contributing as long as you have the taxable compensation to support it.


If you're ever interested in checking the source for these rules, you'll find them in IRS Publication 590. Also, since these rules can sometimes get a bit complicated, you'd probably be wise to check with a CPA or other qualified income tax advisor before taking action. You'll want to make sure there's nothing about your specific situation that would cause these basic rules to not apply.


Thanks so much for your question. I hope this helps and I wish you all the best!




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