[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.
And you can't put more money than you make in any IRA. So if your income is only $1,500, then $1,500 is the most you can contribute to a Roth. There is an exception that allows Roth accounts for nonworking spouses.If you and your spouse file a joint return but one does not work, the employed spouse can open and contribute to a Roth IRA for the unemployed partner.any taxpayers, however, find that a Roth works best for them. With a Roth account, you won't get an immediate tax break, but you won't pay any tax on your money when you eventually take it out. The IRS, however, has specific rules on just who can have a Roth IRA and how much money can be contributed each year.