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: A retiree needs to have earned income to continue to fund a Roth. My wife has never worked outside the home. I have always been able get her Roth. After I retire, do I have to earn $4k or $2k to be able to continue funding both our Roths? Can we still put the check in the account on Jan 2 each year even if I haven't gotten a job for the year? Thanks!
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A retiree needs to have earned income to continue to fund a Roth. My wife has never worked outside the home. I have always been able get her Roth. After I retire, do I have to earn $4k or $2k to be able to continue funding both our Roths? Can we still put the check in the account on Jan 2 each year even if I haven't gotten a job for the year? Thanks!

You can only fund a IRA, including the Roth, if you have compensation for that year. Compensation is defined as wage, salary, bonus, commision, or net business income. If you have compensation, you can also fund your spouse's IRA.

The limit for you is the lesser of $2,000 or your compensation. The limit for your spouse is the lesser of $2000 or your compensation less your contribution to your IRA. So you will need to have $4k of compensation to fully fund both your and your spouse IRA.

You can only fund an IRA if you have compensation. If you have no job and no net business income, thus no compensation, you may not fund your nor your spouse IRA.
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BladeXrunners, thanks, that's what I was planning. Pete
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