Do You Qualify?

If you're interested in starting an IRA, the first thing you need to find out is if you can.

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To have any kind of IRA, you must have income from a job, self-employment or alimony. Investment income doesn't count, nor does income from pensions or annuities.

You can put up to $5,500 a year into your IRA in 2015. Taxpayers age 50 and older have even higher limits, in an effort to help procrastinators catch up on retirement. If you've hit the big 5-0, you can set aside an extra $1,000.

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