Personal Investment & Financial Planning Q`s/Roth

Advertisement


Question
Can my Social Security income be placed in a Roth or Regular IRA?
Thank you

Answer
You can only contribute to Roth or regular IRA if you have earned income (salary or self employment). You can only contribute to the extent of the earned income and subject to the dollar limits

If you do have earned income the government doesn't care where you get your contribution money from

Good Luck A

B

Personal Investment & Financial Planning Q`s

All Answers


Answers by Expert:


Ask Experts

Volunteer


Bruce Julien

Expertise

I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.

Experience

I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.

Education/Credentials
BA in Accounting, University of Maryland 1990

©2016 About.com. All rights reserved.