Jan 15

How old do my kids have to be?

What’s the limit?

What’s the limit on a ROTH contribution for an adult making less than 110k/year? I heard someone say it was going to go up to $7000


2 comments so far...

  • Lisa C Said on January 15th, 2010 at 1:14 pm:

    go through your bank if you have one.

  • Cogswellia Said on January 15th, 2010 at 1:47 pm:

    It has nothing to do with age. The kids need to have earned income before they (or you) can put money in a Roth. The theory is that you are not putting money into a Roth for your kids. They are earning money and putting it into a Roth. Since money is fungible you can give the kids money to do what they want with. However they can not put more into a Roth IRA than they earn.

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