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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76395  
Subject: Re: contribution to a roth IRA Date: 1/6/2000 7:36 AM
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Greetings, John, and welcome. You wrote:

<<I have a question about the income you can use for a contribution to a Roth IRA. I'm a student and a first time investor. I want to open a Roth IRA to begin to take advantage of it as early as possible. I don't have any income from a job, but recently I just cashed in a CD and received the $2000 I would like to contribute in interest. Is this moeny appropriate to use? Thanks a lot!>>

Annual contributions to a Roth or to a traditional IRA must come from earned income, and that means wages/compensation from a job. Your CD interest and principal will not qualify for the purposes of a Roth IRA contribution.

For details on IRAs, visit our IRA area at http://www.fool.com/Money/AllAboutIRAs/AllAboutIRAs.htm.

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