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I'm 67 and made only mostly $25,000 from Social Security in 2016. Can I fund a Roth IRA?

Is there a minimum amount of earned income to be able to open a Roth IRA?

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I'm 67 and made only mostly $25,000 from Social Security in 2016. Can I fund a Roth IRA?

Social Security is not considered "earned income."  If you don't have a job as an employee and receive a W-2 or don't have income in the form of "sole proprietor/independent contractor" you generally don't have earned income and can't fund a ROTH.

Tom Young

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I'm 67 and made only mostly $25,000 from Social Security in 2016. Can I fund a Roth IRA?

Social Security is not considered "earned income."  If you don't have a job as an employee and receive a W-2 or don't have income in the form of "sole proprietor/independent contractor" you generally don't have earned income and can't fund a ROTH.

Tom Young

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