If you’re 62, retired, and wondering whether you can still save for the future through a Roth IRA, you’re not alone. Many California retirees face this exact question as they transition into their post-career years while seeking to maintain financial security and flexibility.
The short answer: There is no age limit for contributing to a Roth IRA, as long as you have earned income. This guide will help you understand how Roth IRAs work in retirement, who they benefit most, and how to integrate them into your broader estate and financial plan.
Source: MarketWatch – “I’m 62, retired and want to keep saving. Is there an age limit for Roth IRAs?”
Who Should Keep Contributing to a Roth IRA After Retirement?
This article is for California residents who:
If you’re managing California-based assets and want to protect your family’s financial future, understanding how Roth IRAs fit into your estate plan is essential.
What Are the Rules for Contributing to a Roth IRA After Age 62?
Many retirees mistakenly believe that once they stop working full-time, they can no longer contribute to retirement accounts. Here’s what you need to know:
1. You Must Have Earned Income
To contribute to a Roth IRA, you need to have earned income from:
Note: Income from pensions, Social Security, annuities, or investment dividends does not count as earned income for IRA contribution purposes.
2. Income Limits May Apply
For 2026, Roth IRA contributions are subject to income phase-out limits:
If your income exceeds these thresholds, you may not be able to contribute directly to a Roth IRA. However, a “backdoor Roth IRA” conversion may still be an option—consult with a qualified financial advisor or estate planning attorney to explore this strategy.
3. Contribution Limits
For 2026, the annual Roth IRA contribution limit is:
Why Continue Contributing to a Roth IRA in Retirement?
There are several compelling reasons to keep funding a Roth IRA even after you’ve retired:
1. Tax-Free Growth and Withdrawals
Unlike traditional IRAs, Roth IRA contributions are made with after-tax dollars. This means:
2. No Required Minimum Distributions (RMDs)
Traditional IRAs and 401(k)s require you to start taking RMDs at age 73 (as of 2024). Roth IRAs do not have RMDs during your lifetime, giving you:
3. Legacy Planning and Wealth Transfer
If you don’t need the money in your Roth IRA during your lifetime, it becomes an excellent vehicle for passing wealth to your children or grandchildren. Benefits include:
For California families managing multi-generational wealth, integrating Roth IRAs into your revocable living trust or estate plan can help minimize tax burdens and maximize what you leave behind.
Real-World Example: How a Roth IRA Helps California Retirees
Case Study: Susan, a 64-year-old retired teacher from Sacramento, works part-time as a consultant earning $25,000 per year. She contributes the maximum $8,000 annually to her Roth IRA. Over 10 years, assuming a 6% average annual return, her contributions could grow to approximately $110,000—completely tax-free. Because Susan doesn’t need this money for living expenses, she plans to leave it to her grandchildren, who will inherit it tax-free and can continue letting it grow for up to 10 more years.
By working with California Probate and Trust, PC, Susan integrated her Roth IRA into a comprehensive estate plan that includes a revocable living trust, healthcare directives, and a durable power of attorney—ensuring her family is fully protected.
How Does a Roth IRA Fit Into Your Estate Plan?
If you’re a California resident concerned about estate taxes, probate, and protecting your family, it’s critical to view your Roth IRA as part of a larger financial and legal strategy.
Key Considerations:
At California Probate and Trust, PC, we help clients integrate retirement accounts like Roth IRAs into comprehensive estate plans that protect both their financial assets and their loved ones.
Common Questions About Roth IRAs for Retirees
Can I convert my traditional IRA to a Roth IRA after age 62?
Yes. There is no age limit on Roth conversions. However, you will owe income tax on the amount converted. This strategy can make sense if you expect to be in a higher tax bracket later or want to leave tax-free assets to heirs.
What if I only have Social Security income?
Social Security benefits do not count as earned income, so you cannot contribute to a Roth IRA based solely on Social Security. However, if you have any self-employment or part-time work income, you can contribute up to the lesser of your earned income or the annual limit.
Should I prioritize a Roth IRA or paying down debt?
This depends on your individual situation. If you have high-interest debt, paying that off may take priority. However, if your debt is manageable and you have earned income, contributing to a Roth IRA can provide long-term tax benefits and estate planning advantages.
How California Probate and Trust, PC Can Help
At California Probate and Trust, PC, we understand that retirement planning doesn’t stop at age 62. Our experienced estate planning attorneys help California residents:
Our firm has represented thousands of clients across Sacramento, Fair Oaks, and the Bay Area. We offer free consultations to help you understand your options and develop a plan tailored to your unique needs.
Take Control of Your Retirement and Estate Plan Today
If you’re 62 or older and still earning income, contributing to a Roth IRA can be a smart financial move—especially when integrated into a comprehensive estate plan. Whether you’re looking to maximize tax-free growth, avoid probate, or leave a lasting legacy for your family, the right legal and financial guidance makes all the difference.
Ready to take the next step?
Contact California Probate and Trust, PC today to schedule your free estate planning consultation. Our compassionate, experienced attorneys will help you navigate the complexities of retirement savings, estate planning, and wealth transfer—so you can focus on what matters most: protecting your family and your future.
📞 Call us at (866) 674-1130 or visit cpt.law to get started.
Legal Disclaimer: This article is provided for informational purposes only and does not constitute legal, financial, or tax advice. The rules governing Roth IRAs, estate planning, and retirement accounts are complex and subject to change. Every individual’s situation is unique, and the information provided here may not apply to your specific circumstances. You should consult with a qualified estate planning attorney, financial advisor, or tax professional before making any decisions regarding Roth IRA contributions, conversions, or estate planning strategies. California Probate and Trust, PC does not guarantee any specific outcome or result based on the information in this article.