what age to stop ira deferral
Which IRA makes the most sense for you? IRAs come in two forms and have different approaches to saving: Traditional IRA â A Traditional IRA is a tax-deferred retirement account. You save today and are taxed when you withdraw the money.* The age limit to contribute is 70Â½. Roth IRA â In a Roth IRA, you don't get any tax deductions for the contribution today, but can withdraw the assets when you retire without paying taxes.** There's no age limit to contribute. IRAs have a few additional differences, but your financial advisor can help you determine which savings vehicle best meets your needs. If I have a 401(k), do I need an IRA?