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Ask The Expert: Contributions

Q:
Asked by Frederica 6/11/12

Hello, I am a 60 yr old woman. Is it too late to open an IRA ?

Matthew Malone A:
Answered by Matthew Malone 7/9/12
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237 out of 429 people found this useful.

Hi Frederica.

There’s no age limit to a Roth. The most likely reason an “older” American wouldn’t be able to contribute is if they stop working. You must have “earned” income–from wages, for instance–to make a contribution. A spouse can contribute for you, however, if they work and you don’t.

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