Dear Garden State Trust: I have read that the age limits on IRA contributions have been removed. I’m 71, so does it really make sense for me to make an IRA contribution now? —Retired Saver Dear Retired: Probably not, but more of your financial information is needed to be certain. The tax benefits for IRA…
Month: December 2022
Opportunity Costs in Retirement
A recent working paper “HOW MUCH LIFETIME SOCIAL SECURITY BENEFITS ARE AMERICANS LEAVING ON THE TABLE?” from the National Bureau of Economic Research takes lots of data, including the spending and taxation of families, and suggests: “More than 90 percent should wait till age 70. Only 10.2 percent appear to do so. The median loss…