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Earlier workers with an individual retirement account could only contribute up to the age of 70 1\/2, but now with that age limit being removed, anyone who is working and has earned income can contribute to a traditional IRA irrespective of age. <\/p>
He added that older retirees who may wish to keep contributing to their IRAs will benefit from this.<\/p>\n
The contribution limit for an IRA In 2021 is $6,000, or $7,000 if you are 50 or older. <\/p>
If both you and your spouse are over 50 and if any one of you is still working, up to $7,000 can be contributed to an IRA in each of your names, or a total of $14,000.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t