A client of mine is a 77 year old woman whose tax returns I prepare. She still works full time.
She had a meeting with her financial advisor who informed her about the new rules on IRA contributions--thanks to the SECURE Act, you can now make IRA contributions after 70.5.
"Slight" problem: she didn't know about this rule to begin with--she has been making IRA contributions each year...at ages 71, 72, 73, 74, 75, 76, and 77.
Again, she still works full-time, which I understand is no exception (although it should've been, if you ask me).
What should I advise this client to do at this point? (Other than yell at the brokerage firm that allowed her to make incorrect contributions for several years.)