Starting in 2020, a new law takes into effect that will help expand opportunities for individuals to increase retirement savings. There is no longer a restriction to the age limit that contributions can be made into a traditional IRA. After reaching age 70 ½, you can make qualified charitable contributions of up to $100,000 per year directly from your IRA. As of 2020, the new minimum age for distributions from IRAs and retirement plans is now 72. The exception to this is if you are still working as an employee and do not own over 5% of the outfit that employs you, then you can postpone distributions until you retire.  For more information click here.