Ask Terry Questions Collecting on a Roth IRA

Collecting on a Roth IRA

By Terry Savage on April 29, 2024 | Financial Planning / Retirement

Hi Terry, I am a 56 year old who is now on SSDI and I am officially retired from my union construction job. I collect SSDI and 2 pensions. I want to open a Roth IRA and would like to know how long before you can start collecting? Do I have to wait until my actual retirement age of 67?

Terry Says

You CANNOT open a Roth IRA unless you have EARNED INCOME.  And that does not include income from disability or pensions.

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