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I am single and retired with an AGI under $95,000 but no earned income. Can I contribute to a Roth IRA?

April 26, 2017AGI contribute earned income retired roth ira

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I am single and retired with an AGI under $95,000 but no earned income. Can I contribute to a Roth IRA?

1 Answer

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Unfortunately not. Roth IRAs, just like traditional IRAs, can only be created with earned income. However, you can convert your traditional IRA into a Roth if you are willing to pay the up-front tax hit. There is no earned income requirement for conversions.