No. of Recommendations: 0
is ok for me to open a roth ira with money from an insurance settlement or do the contibutions have to come from a work income ei.pay check ,salary.I can not seem to find an answer to this?
Print the post Back To Top
No. of Recommendations: 0
Contributions to a Roth are after-tax dollars.

So, if I had to guess, I would say it doesn't matter where the money comes from.

Hope that helps.

the hendrys
Print the post Back To Top
No. of Recommendations: 0
is ok for me to open a roth ira with money from an insurance settlement or do the contibutions have to come from a
work income ei.pay check ,salary.I can not seem to find an answer to this?


As long as you have earned income you can put money from any source into a ROTH
Print the post Back To Top
No. of Recommendations: 0
You need to have actually earned the money in the tax year but you can put any of your money into the Roth.

MEG
Print the post Back To Top
No. of Recommendations: 0
Meg , thanks for your reply a while back on the roth ira issue , would you say monies received from workers comp is ok to invest . and also what about money from social securities for disability payments ? is this possible to invest in an ira also?
Print the post Back To Top
Advertisement