Quote:
Originally Posted by CRLLS
My understanding is that pensions are not considered earned income so cannot be used to "contribute" to a Roth. One can do a Roth Conversion from some retirement accounts if allowed by that account. I believe that one can open a Roth with that conversion. I am not certain of that. You may have to ask.
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You can open a Roth account any time.
You can only contribute to a Roth with earned income.
You can convert to a Roth if you have a suitable account to convert from (typically a traditional IRA) and are willing to pay the associated taxes.
The custodian could maybe charge custodial fees if you opened a Roth and left the balance at $0 for a while, but opening a $0 Roth and then doing conversions shortly afterwards is almost certainly acceptable.