Ask Terry Questions Can I make IRA contribution if no wages were earned?

Can I make IRA contribution if no wages were earned?

By Terry Savage on February 20, 2015 | Financial Planning / Retirement

Can I make IRA contribution if no wages were earned last year? (Am single, 63, live on deceased husband’s pension, widow’s benefits, and investments.)

Terry Says:  No, sorry.  IRA contributions must be made from “earned income” — which does not include interest, dividends, pensions, etc.

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