Another reader request asked:

My mother is 57, has no retirement $$$, and works full-time making about $25,000/year. I want to open a ROTH for her for Christmas, can I? - Shannon from Montana

Hello Shannon - how nice of you to think of Mom for the holidays! Congrats to you (and your Mom for having such a considerate daughter!) ROTH accounts are funded based on income, so as long as your mother has income, anyone can fund a ROTH account. As a side note, the only exception to the “need a job to fund a ROTH” is that a husband may fund his non-working wife’s account. And being 57, you’ll be able to contribute the catch-up amount of $5,000 this year for her. Merry Xmas to you and your Mom! What a perfect Xmas gift to give her!

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