Can You Still Contribute to an IRA If You're Already Retired? What to Know Before April 15

Most people still have time to contribute to an individual retirement account (IRA) before the April 15 deadline. But you may be shocked to hear that some retirees can also still contribute to their plans.

Depending on your post-career income streams, it's still possible to use tax-advantaged accounts to build your nest egg even if you've already retired.

Earned income is the key factor

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You must generate earned income to contribute to an IRA. This stipulation opens the door to part-time work or occasional gigs. If your earned income reaches $1,000 for the entire year, you can contribute up to $1,000 to your IRA.

For the 2025 tax year, retirees 50 and older can contribute up to $8,000 per year, since catch-up contributions apply. That means you only have to earn $8,000 per year to max out your plan.

Earned income does not include popular passive income streams like traditional retirement plan withdrawals, Social Security, capital gains, dividends, interest, rental income, or annuity income.

If you had any type of side hustle last year, you can contribute to an IRA. If you didn't but want to contribute to an IRA in the 2026 tax year, you may want to pick up some part-time work. You only need $8,000 in earned income, which makes it feasible to work for fewer than 20 hours per week. You just have to average $160 per week, assuming you work for 50 weeks. That comes down to an average of $32 per workday.

A working spouse makes it easier to contribute to an IRA

Single retirees have fewer options to contribute to an IRA, but a retired individual who has an employed spouse can still contribute to an IRA if the couple files taxes jointly. In this scenario, the spouse must earn enough income to fulfill both IRA limits. For instance, a working spouse who earns only $12,000 per year is not bringing in enough money for both spouses' IRA contribution limits.

Luckily, the average salary offers more than enough room for $16,000 in combined contributions, assuming both spouses are eligible for catch-up contributions. The retired spouse can contribute money from their own bank account instead of asking the working spouse for money, as long as the working spouse's income is sufficient for both limits. You also have to factor in the working spouse's 401(k) plan when performing this calculation.

However, if your spouse earns a high income, you may have to contribute to a traditional IRA instead of a Roth IRA. If your combined modified adjusted gross income is above $246,000, you cannot contribute to Roth IRA plans. Partial contributions are possible between $236,000 and $246,000. If you have less than $236,000 in modified adjusted gross income, you're eligible to contribute the full amount to a Roth IRA, effectively letting you choose between Roth and traditional IRAs.

Open your IRA before April 15

You still have a few more days to open an IRA and make contributions so you can trim your tax bill. Many brokerage firms make it easy to create accounts within a few days. One and a half weeks is still plenty of time if you get started now.

Once you have an IRA ready to go, you can keep contributing to it each year as long as you generate enough earned income. That way, you get to build your portfolio even more and set the stage for a smoother retirement.

Luckily, it doesn't take much time to complete the process once you get started. Opening an IRA is fast, easy, and free. Check out our list of the best IRA brokers to get started before Tax Day.

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