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BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs
yelena
Apr 29 2005, 04:04 PM
QUOTE
Individuals must have earned income and adjusted gross income less than $110,000 for single, $160,000 for married couple.


Let's say I open a RothIra now my income now 60K. What is in couple years my income will be more than 110K, then I am not eligible anymore for RothIRA and I should close it?
Or I can keep using it even if my income grew more than 110K limit?
Thank you smile.gif
WDIK
Apr 29 2005, 05:04 PM
The income limits apply on a year to year basis with resepct to contributions for that year. Prior year contributions that have been made can remain in the Roth and continue to grow.
yelena
May 3 2005, 03:54 PM
thank you biggrin.gif
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