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Doesn't the money put into an IRA have to be income rather than just money for it to be a tax shelter?Roth IRA?
It can come from anything you've already paid taxes on. More importantly, with a Roth IRA, the principal can be withdrawn without penalty (but not the interest). Which means you can use it as an emergency fund. Whereas a Traditional IRA has huge penalties for withdrawing anything before you turn 60.
thenewgreen · 3326 days ago · link ·
Probably, I have no idea. I've never had money that wasn't income.