Header Section

Smart money/Coming Soon

Mailbag

Thursday's Slott Report Mailbag

Consumers: Send in Your Questions to [email protected]

Q I am 70-1/2 this year and still working and contributing to my 401(k). I plan to retire this year. I also want my wife (not earning an income) to take out a Roth IRA this year. I am wondering how much I have to earn pre-retirement for my wife and I to take out Roth IRAs? Or I guess better said, does my contribution to my 401(k) need to be deducted from my earnings amount before figuring if I have enough left for Roth contributions? If I do not have enough earnings for my wife and I before I retire, can I just do the spousal Roth IRA for my wife without doing a Roth contribution for myself?