Update: The general rule of thumb is that an individual is not eligible to receive Social Security disability benefits (SSDI or SSI) during incarceration. It does not matter if the conviction is for a misdemeanor or a felony. However, when benefits stop differs depending on whether you are receiving SSDI or SSI. As a result, individuals may receive Social Security benefits for a short time after incarceration. Click here for more information.
The 2015 IRA contribution limits will look just like it did for 2014. Both the traditional and Roth IRA will have the same contribution limit, which will max out at $5,500. If you are 50 years or older, there is a $1,000 catch up contribution.
There are no age restrictions to qualify for a Roth IRA contribution, but your modified adjusted gross income (MAGI) must be below a certain threshold. Roth IRAs have several advantages in addition to the tax benefits, so here's how to find your Roth contribution limit -- as well as a way to get around the limit if you don't qualify.