Rock And Roll Heaven by The Righteous Brothers. This talks about numerous music stars who died too young. First verse: Jimi gave us rainbows is Jimi Hendrix. Janis took a piece of our hearts is Janis Joplin. Otis took us all to the dock of the bay is Otis Redding. Remember Jim that way is Jim Morrison.
The idea is that even if you earn too much to contribute to a Roth IRA directly, you can open a Traditional nondeductible IRA and convert it to a Roth; there is no income limit on Traditional nondeductible IRAs or conversions.
Roth vs. traditional IRA. Whether to use a Roth or a traditional IRA for those contributions depends on your individual tax situation. Hevert favors the Roth because there is no RMD, so funds can continue to grow throughout retirement and can be tapped at a later date in retirement or left to heirs in an estate.owever, if you are retired and your spouse has earned income, your spouse can contribute to his or her IRA, as well as your IRA, which would be a spousal IRA contribution. 1  Share this story. 2  LinkedIn. 3  Delicious. 4  Reddit.