well, you could contribute to a Roth IRA for yourself (or for your wife) up to the limit of your earned income (not including pensions, SS, etc). But the real question is WHY you would want to do that if you’re a retiree. I’m assuming you don’t want to take a lot of risk with this money. You’d probably leave it in CDs. And in that case, it really doesnt matter that the money is growing tax-deferred.