do you have to have earned income to contribute to an ira
You must contribute earned income to both a traditional IRA and Roth IRA. Earned income is money you generate from wages, self-employment, a partnership or even alimony. But an inheritance, or income from an inheritance, is not earned income and therefore cannot be contributed to an IRA. But you do have some options.The easiest suggestion would be to get some sort of job. With earned income, you can contribute to a traditional IRA until you turn 70 Â½ years old.And you can contribute to a Roth IRA even after you turn 70 Â½ . Again, though, you must have earned income, so it might be income working part time.arned income is money you generate from wages, self-employment, a partnership or even alimony. But an inheritance, or income from an inheritance, is not earned income and therefore cannot be contributed to an IRA. But you do have some options.