
What’s so Secure about the SECURE Act?
One piece of good news is that the age restriction limiting people from contributing to traditional IRAs after age 70 ½ has been repealed. Contributions to Roth IRAs by qualifying taxpayers were already allowed. This is a windfall, particularly to people working later in life, as they may continue contributing potentially tax-deductible contributions and letting it grow tax-deferred, until withdrawn. If an investor has earned income, they are allowed to contribute to their IRA. This provides more flexibility in planning to better optimize their after-tax returns and retirement income.