[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.
A Roth IRA is an IRA that, except as explained below, is subject to the rules that apply to a traditional IRA. You cannot deduct contributions to a Roth IRA. If you satisfy the requirements, qualified distributions are tax-free. You can make contributions to your Roth IRA after you reach age 70 Â½.You can leave amounts in your Roth IRA as long as you live. The account or annuity must be designated as a Roth IRA when it is set up.The same combined contribution limit applies to all of your Roth and traditional IRAs.ou can make contributions to your Roth IRA after you reach age 70 Â½. You can leave amounts in your Roth IRA as long as you live. The account or annuity must be designated as a Roth IRA when it is set up.