Frequently Asked Question
I didn't earn any income this year. Can I still contribute to a Roth?
Wages from past years can't be used as a basis for making contributions to a Roth in the current year. In order to establish a Roth, you must have earned taxable compensation or self-employment income for the year. If you did not earn income this year, you are not eligible to contribute.
To learn more about Roth IRAs, see Roth IRA: Back To Basics and the Roth IRAs tutorial.
This question was answered by Denise Appleby
(Contact Denise)
To learn more about Roth IRAs, see Roth IRA: Back To Basics and the Roth IRAs tutorial.
This question was answered by Denise Appleby
(Contact Denise)
by
Denise Appleby
Denise Appleby is founder and owner of Appleby Retirement Consulting,which provides technical consultation, content, coaching, writing, editing and training services on related topics.
With more than 14 years of experience in the IRA and defined-contribution plans fields, Appleby has held several senior retirement-plan related positions with Pershing LLC, which included vice president of plans products and services, retirement plans manager, trainer, training manager, compliance consultant, technical help desk manager and writer.
With more than 14 years of experience in the IRA and defined-contribution plans fields, Appleby has held several senior retirement-plan related positions with Pershing LLC, which included vice president of plans products and services, retirement plans manager, trainer, training manager, compliance consultant, technical help desk manager and writer.
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