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Author: BookmFool Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121585  
Subject: Re: Can My Wife Open An IRA? Date: 3/5/2000 12:49 AM
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I have an AGI of 64k, and contribute to an employer matching 401k. My wife receives social security disability. Can she open a traditional IRA?

The way I understand the rules for IRAs, your wife's disability doesn't fall under the compensation rule: Compensation includes wages, salaries, fees, tips, bonuses, commissions, taxable alimony, and separate maintenance payments, but, filing a joint return, your combined AGI is over the deductable limit for traditional IRA's.

Am I eligible to open a Roth IRA?

You'd both be eligible. Here's a link to the Fool's IRA section for all the details:

http://www.fool.com/money/allaboutiras/allaboutiras.htm?ref=G02C05

Look for the pros here to correct me or better explain the subject.

HTH

BmF
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