Savvy Senior: The Tax Credit That Lets You Double-Dip on Retirement Savings

Dear Savvy Senior,

What can you tell me about the retirement saver’s tax credit? At age 60, I’m looking for ways to boost my retirement savings beyond my 401(k) plan and have heard this may be a smart way to do it. Is this something I’m eligible for?

Need to Save

Dear Need,

If your income is low to moderate and you participate in your employer-sponsored retirement plan or an IRA, the “...