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Basic 401k Info

What Is a 401k? What is a 401k Plan? 401k Fund Eligibility 401k Investment Opportunities 401k Advantages Frequently Asked 401k Questions Individual Retirement Accounts (IRA's) IRA Eligibility Types of IRAs Traditional vs Roth IRAs

IRA Eligibility

Requirements for an Individual Retirement Account

The set up an IRA, you must simply have an income. This can include:

Essentially, if you have done work and been paid for it, you have already qualified. There is no limit on your level of income, as it can be as little as $100 or as much as $100 Million. The IRS will allow you to contribute as much as $2,000 per year, or your entire income, as long as it is less than $2,000. However, once you have passed age 70 ½, you will no longer be able to participate.

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