That is a great question, it would appear that you could make
a ROTH contribution, as long as you do not exceed income phase-out limits.
The ROTH contribution does not have an age restriction, like
the regular IRA, so your age is not a factor.
There is an earned income limitation, but if you are receiving
a W-2 with payroll withholding, that would be earned income, even though you are
retired (on the theory if it looks like a duck, quacks like a duck, and walks like
a duck, it's probably a duck), and you should be able to contribute the lesser of
the amount on the W-2 or $6,500.
Yes, you may withdraw the principal tax free, but you have to
wait to withdraw the earning.
