I recently retired. Along with my pension and railroad retirement, I am receiving a monthly paycheck from the company buyout plan. According to the company letter, although no longer working for the company, I will still be considered an employee until my such time as when I receive my last buyout check.

Can I open a Roth IRA account? And will I still be able to put into it after my last buyout check?

My Foolish plan is that it will benefit my wife, who is currently unemployed, rather than myself.