Anyone can open a .1 However, only those with earned income within the IRS's annual limits are eligible to contribute. Broadly speaking, that means you can make a full or partial contribution to a Roth IRA for 2024 if your modified adjusted gross income (MAGI) is less than $161,000 if you're single or $240,000 if you're married and filing jointly. In 2025, those income limits increase to $165,000 if you're a single filer or $246,000 if you're married and filing jointly. For a full breakdown of how much you may be able to contribute, check out our guide to . Keep in mind, you can only contribute as much as you earn. If your income is less than the contribution limit, then you can only contribute the amount you have earned., Anyone can open a Roth IRA, including children and those who work part time. Learn more about opening a Roth IRA and how much you can contribute., You cannot deduct contributions to a Roth IRA. If you satisfy the requirements, qualified distributions are tax-free. You can make contributions to your Roth IRA after you reach age 70 ½. You can leave amounts in your Roth IRA as long as you live. The account or annuity must be designated as a Roth IRA when it is set up..