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URL:  http://boards.fool.com/ltltltltyou-cannot-make-annual-11909773.aspx

Subject:  Re: Very basic question about IRA's Date:  2/1/2000  4:43 PM
Author:  JAFO31 Number:  18583 of 75802

<<<<You cannot make annual contributions of up to $2K unless you have earned income from a job. However, you may make rollover contributions at any time from other qualified plans like a pension or 401k. Therefore, you may transfer your pension money to an IRA. You just can't contribute to an IRA out of your pocket unless the money you use to do so came from a job.>>>>

I dislike quibbling with TMFPixy, but an important (IMO) caveat was omitted from his first sentence (and the last sentence, too).

"You cannot make annual contributions of up to $2K unless you have earned income from a job, unless you are married to a spouse who has earned income that qualfies for contribution to a spousal IRA.

Just my $0.02. Regards, JAFO


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