[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.
Here are a few other eligibility-related features of a Roth IRA: 1  You can make contributions at any age. 2  You are not required to take a ârequired minimum distribution (RMD)â from a Roth IRA. 3  A non-working spouse can open a Roth IRA based on the working spouseâs earnings (and the coupleâs tax filing status). You can still make your annual contribution if you also convert money from a tax-deductible account (like a Traditional IRA) to a Roth in the same year. You can contribute to a Roth even if you participate in a retirement plan through your employer.