You can open or contribute to an individual retirement account (IRA) at any age, but you must have what the Internal Revenue Service (IRS) considers earned income. If you are retired and your spouse has earned income, he or she can contribute to their own IRA and also make what is called a spousal contribution to your IRA. After confirming that you are eligible to make contributions to an IRA during retirement, you may need guidance on how much you can contribute or help evaluating whether a Roth or a traditional IRA is better for you. If you had a SIMPLE IRA or an SEP IRA but have retired from that job, you can still open an IRA through investment firms such as Vanguard or Fidelity.
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