A Roth IRA is a great option if you are looking to save after-tax dollars, offering the opportunity for tax-free growth and relaxed distribution rules.
Unfortunately, eligibility to contribute to a Roth IRA is subject to restrictions, which can cause confusion.
To help make the analysis easier, download the “Can I Contribute To My Roth IRA” flowchart.
It addresses the key eligibility considerations, including:
- Earned income
- Other (traditional) IRA contributions
- Filing status-based MAGI thresholds