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I am retired and 64 years old. Can I transfer $7,500 of my own cash from my checking account to a Roth IRA?

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I am retired and 64 years old. Can I transfer $7,500 of my own cash from my checking account to a Roth IRA?

Yes, you can contribute to a Roth IRA IF you have earned income in 2024.

Without earned income (from wages or self-employed income), you cannot.

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