Planners always encourage their clients to save as much as possible for retirement. But what if some clients can't save enough? These clients may decide that part of their plan is to just work – and save -- longer.

Clients cannot contribute past age 70½ to a traditional IRA, so they could consider converting to a Roth IRA if they still earn income to contribute past that age and if they earn below the maximum threshold for their filing status, says Steve Williams, vice president, national head of financial planning at U.S. BMO Private Bank in Chicago. Moreover, Roth IRAs have no required minimum distributions at age 70½.

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