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IRA if retired?
Old 07-08-2008, 03:34 PM   #1
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IRA if retired?

This is my first year being retired but my wife is still finishing out her contract. She is maxing out her retirement at work as I use to do. I was wondering if I can open up an IRA in my name even if I don't have any earned income.

I think our combined income is now low enough that I could even get a ROTH.

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Old 07-08-2008, 03:49 PM   #2
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Spousal IRA! Download the publication at the IRS site dealing with IRA's. Publication 590 is the number.

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Old 07-08-2008, 03:49 PM   #3
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If your wife has enough income to fund both of you, yes.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)
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Old 07-08-2008, 05:49 PM   #4
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Originally Posted by ziggy29 View Post
If your wife has enough income to fund both of you, yes.
Absolutely. And make it Roth if you can.
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Old 07-09-2008, 05:46 AM   #5
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