Comments on: Retirement: Roth IRA Earnings and Contribution Limits http://investing.curiouscatblog.net/2011/03/19/retirement-roth-ira-earnings-and-contribution-limits/ Fri, 24 Apr 2015 01:18:29 +0000 hourly 1 http://wordpress.org/?v=4.2.1 By: Kevin M http://investing.curiouscatblog.net/2011/03/19/retirement-roth-ira-earnings-and-contribution-limits/comment-page-1/#comment-5730 Fri, 29 Jul 2011 15:46:49 +0000 http://investing.curiouscatblog.net/?p=1204#comment-5730 An important point with Roth IRAs is that they have to be funded with earned income, so if you want to max out your contribution of $5000 ($6000 if you’re 50 or older) you need to earn at least that much. That will be a complication if you’re over 70 and fully retired.

Still, having money rolled over into the account will be a great benefit. Not only are withdrawals tax free, but there are no required mimimum distributions kicking in at age 70.5 as is the case with every other retirement plan.

That means that the account can continue to grow–tax free–to be available for your later retirement years when you’re other accounts have been drawn down. With people living 20-30 or more years past retirement, that’s an important consideration.

]]>