No. of Recommendations: 0
You are entitled to contribute $2000 to a traditional IRA assuming you each have at least $2000 in earned income. There isn't any upper limit.
If your income turns out to be much more than you expected for the year, so that you are not entitled to contribute to a Roth, the $2000 can be recharacterized to a traditional IRA, which can be with the same custodian where you have your Roth.
Talk to your custodian about how to do this.
Congratulations on your income!
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.