Greetings, JaneBlonde, and welcome. You wrote:<<Hi---i've posted this question on a coupla' other message boards here, cuz thought i might get more responses and i wasn't exactly sure which message board this belonged on anyway. So----I've always wondered about this---correct me if i'm wrong, but in order to invest in an IRA, you must be employed, because the money you are investing must be "earned income". I have been disabled 20 years now, and have managed to live off my investments. I just bought a house 18 months ago (first time home owner). If someone owns their own business, they can start a Keogh (sp?) plan.....if you are employed, you can invest in a 401k.....i am not employed by someone else, nor do i own my own business. Other than keeping w/ the same type of investing i've been doing in the past, how can i put money away for retirement? (...or in my case, my old age, since i guess i'm already "retired") >>Yes, you must have earned income, or wages from a job, to contribute to an IRA. Also, a self-employed person has a number of options for contributing to a retirement plan, a Keogh plan being one of them. In your case, you have no employment; therefore, both an IRA and a retirement plan are not available to you. That leaves you with a choice of a regular taxable investment account or a (yuk!) tax-deferred annuity. Of the two, most Fools would select a long-term, buy and hold taxable account.Regards..Pixy
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