[Chorus] If you believe in forever, Then life is just a one-night stand. If there's a rock and roll heaven, Well you know they've got a hell of a band, band, band. Jimmy gave us rainbows, And Janis took a piece of our hearts, And Otis brought us all to the dock of a bay. Sing a song to light my fire, Remember Jim that way, They've all found another place, another place to play.
Although you can contribute to a Roth IRA during your retirement years, you cannot contribute unlimited amounts of money. The IRS enforces contribution limits for traditional and Roth IRAs regardless of age. In 2010, for example, you could contribute $6,000 if you are older than 50.
Roth IRA Contribution Limits for Individuals 50 or Older. For individuals that are age 50 or older the same $5,500 contribution limit across all Roth IRAs is in place. However, the IRS also allows these individuals to also contribute an additional $1,000 as catch up contributions.This allowance is provided to assist individuals that are behind in retirement saving, but is available to all individuals over age 50 that qualify for a Roth IRA.ndividuals may contribute money to a Roth IRA from January 1 of the current tax year to April 15 of the following tax year. Contributions are made with post-tax dollars. You pay tax today so that in retirement no tax is charged to you in retirement.