Welcome to Ask Clark, a column designed to answer your financial questions, by money expert Clark Howard.
Can I Contribute to My Roth IRA the Same Year I Turn 50 or Do I Have to Wait a Year?
Tina from Florida asks: "I understand that at age 50 and above, you can contribute $7,000 to the Roth IRA. I'm turning 50 in June 2022. I'm trying to figure out when to change my biweekly contributions. Can I contribute the extra $1,000 starting in tax year 2022 or do I have to wait until 2023?"