Yes, there is no age limit on making regular contributions to traditional or Roth IRAs.
Both you and a spouse can contribute to either even if you are “retired”, provided you can meet these conditions.
- You have earned income – this is taxable compensation, such as wages, salaries, bonuses, or self-employment earnings
- Unearned income, such as money from capital gains, dividends, or investment interest are not eligible.
- Your modified adjusted gross income must be below certain amounts
- You cannot contribute an amount that exceeds your earnings, and you can only contribute up to the annual contribution limits set by the IRS.
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