There is no longer an age limit on making regular contributions to traditional or Roth IRAs. Contributions may be made as long as you have earned income.
For 2023, the total contributions you make each year to all of your traditional IRAs and Roth IRAs can’t be more than:
$6,500 ($7,500 if you’re age 50 or older), or
If less, your taxable compensation for the year.
Required minimum distributions (RMDs) are the minimum amounts you must withdraw from your retirement accounts each year. You generally must start taking withdrawals from your traditional IRA, SEP IRA, SIMPLE IRA, and retirement plan accounts when you reach age 72 (73 if you reach age 72 after Dec. 31, 2022).