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Author: terryguys Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75538  
Subject: Retirement acct. available for me? Date: 12/4/2003 10:03 AM
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I will probably go see a tax accountant on this subject but maybe someone here can point me to the right type of retirement account, if there is one available.

I own 2 buildings and rent them out to 4 businesses. These buildings are under an S-Corporation (with me as president) and all rent is reported to this corporation. I then draw my living expenses out of this corporation. My only other income is some CD's and stock dividends. I have no other income. So all my income is from rents, interest and dividends---I do not work for anyone else or have another job.

So a traditional or roth ira is not available since I have no "working" income (according to my regular accountant). Is there another type of ira available to someone with no "working" income? I know there are other ira type accounts and I am just starting to investigate ira's but I just thought I would start here and hopefully take a 'shortcut' into the dd. What little I have seen seems to indicate I must be "physically working" in a self-employeed job or for someone else to put money into an ira account.

Thanks
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