The Security Act eliminated the age limit at which a person can contribute to an IRA. As long as you're still working, there's no age limit to be able to contribute to a traditional IRA. With Roth IRAs, you can contribute at any age, as long as your earned income is within the allowable income limits. If you're not sure how much you can contribute, use our calculator.
People who have a retirement plan at work should look at the IRA's income limits to see if they're eligible to deduct their contribution to a traditional IRA. Do not use Form 8606, Non-Deductible IRAs (PDF/PDF, Non-Deductible IRAs) to declare non-deductible contributions to a Roth IRA.