Just for clarity, opening a Roth IRA account is not based on your "earnings". It's based on your MAGI (modified adjusted gross income) which is different from AGI (adjusted gross income) although MAGI and AGI can be the same sometimes. So, there are people that "earn" (salary, tips, bonuses, commission and net earnings from self-employment) above the Roth IRA threshold but can still open and contribute to a Roth IRA since their MAGI is below the contribution limits.
Edit: Even if your MAGI is above the contribution limit, you can still do a "Backdoor Roth IRA". (However, Congress is trying to shut this down but wasn't passed this year).
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Just for clarity, opening a Roth IRA account is not based on your "earnings". It's based on your MAGI (modified adjusted gross income) which is different from AGI (adjusted gross income) although MAGI and AGI can be the same sometimes. So, there are people that "earn" (salary, tips, bonuses, commission and net earnings from self-employment) above the Roth IRA threshold but can still open and contribute to a Roth IRA since their MAGI is below the contribution limits.
Edit: Even if your MAGI is above the contribution limit, you can still do a "Backdoor Roth IRA". (However, Congress is trying to shut this down but wasn't passed this year).
Shifu pumping out the shorts!
Hey I know you do a lot of credit card reviews, but do you think you can do a review on the Charles Schwab/ AMEX investor credit card?
You can go higher with certain tax deferred accounts as the cutoff is based on agi.
Good to know Ben!!