In another nod to a population that is working longer and living longer, the SECURE act repealed the 70 ½ age limit for making IRA contributions.  This provision could be valuable to anyone that continues to work after age 70 ½ and wishes to increase their retirement nest egg.

So, Methuselah could still make an IRA contribution.  Of course, Methuselah would still be limited as to deductions based on his income as any other taxpayer would be. (FYI according to the Old Testament Methuselah lived for 969 years.)

But, Methuselah can still do the “back door” Roth IRA by contributing to a non-deductible IRA and converting immediately even if he makes more than Midas (FYI according to Greek mythology, King Midas turned everything he touched into gold, rather like Warren Buffett.)

Interestingly enough, presuming Methuselah was a charitable sort and wanted to make a large Qualified Charitable Distribution (QCD) from his Required Minimum Distribution (RMD), his annual limit would be reduced by the amount of his IRA contribution from the $100,000 QCD treatment.  So, if he made a $7,000 IRA contribution, it would be subtracted from his QCD and subject to inclusion in income.  That amount could become an itemized deduction.  Uncle Sam is not about to allow him to make a deductible contribution AND escape taxation of that amount on his QCD also.

A final little tidbit: SECURE act stands for “Setting Every Community Up for Retirement Enhancement.” Who makes up these names anyway?