Can a retired person contribute to an IRA?

Answer A retired person can contribute to an IRA account. Anyone under 70 1/2 years of age, who has earned income, is eligible to open and/or contribute to an Individual Retirement Account (IRA).Source:We... Read More »

Top Q&A For: Can a retired person contribute to an IRA

Can I contribute to my IRA when i'm retired?

IRAs, or individual retirement accounts, require that you have earned income in order to make a contribution. Earned income includes wages and salaries, so unless you have earned income when you ar... Read More »

Can a retired person get a mortgage?

A retired person can, indeed, be eligible for a mortgage. However, when applying for a mortgage, the bank requires proof of a sufficient monthly cash flow that allows you to make mortgage payments... Read More »

Can a retired person put money in a Roth IRA?

If a retired person has taxable income, he can contribute to a Roth IRA as long as his adjusted gross income does not exceed the income ceiling of $177,000 for married people or $120,000 for single... Read More »

Can a retired person donate a car and file for taxes?

Vehicle donations made by a retiree may still reduce taxable income for the year in which the donation was completed. A person's retirement status in no way excludes him from taking advantage of le... Read More »