Can I start a ROTH IRA with just a monthly SS Disability check (and no other income)?

Question

I am on SSD/Disabilty, and do not have any earned income. I understand that an IRA contribution must be from earned income. So, I am trying to clarify my understanding as to whether I can start an IRA (pref. ROTH) or not?

Answer 1

No. Your disability check is not earned income. It is not a paycheck. If you do not get a paycheck from a job, you cannot use any of your money to start a ROTH IRA.

What you might consider is getting a small part time job for part of the year. As long as your employer pays you by paycheck (and not by under-the-table cash), you will be able to put all of that money towards a ROTH IRA, up to whatever the current annual dollar amount is.

Answer 2

No, but if you are married and your spouse has a job, then you could.

Answer 3

No you can't,

The easiest way to get around it is sell a few items a month on Ebay or another online auction site. Then claim a small gain on your taxes and you now have earned income.