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Roth Catch-up question?
Old 05-24-2020, 01:38 PM   #1
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Roth Catch-up question?

Wife turns 50 this year. We are wondering if she has to be 50 or if it is the year that she turns 50 she is eligible to send the extra 1K. We want to send in the 7K all at once for her soon unless it is strictly by age and not the year in which you become 50. I am already passed 50 so no question for me. We are just trying to maximize savings and do it all at once if possible. Thanks for you consideration. Best.

Jon
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Old 05-24-2020, 01:57 PM   #2
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If she turns 50 during the year she can make the catch up contribution any time during the year. IRS only looks at the full calendar year.
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Old 05-25-2020, 04:45 AM   #3
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Quote:
Originally Posted by timbervest View Post
If she turns 50 during the year she can make the catch up contribution any time during the year. IRS only looks at the full calendar year.
Excellent! Thank you. I was leaning toward that side. We will get the contribution sent out ASAP. Best.
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