Can one deposit money into an IRA after retirement?

Individuals are allowed to deposit money into an IRA after they are retired, according to Bankrate, but it is not a common strategy. However, depending on how much earned income an IRA holder takes in after retirement, this is a strategy that makes sense for more money later in retirement.

If an IRA holder decides to do this, he must decide how much to contribute to the IRA account. Some important factors must be considered, notes Bankrate. The IRA holder can only contribute part of his earned income, not his investment income. In addition, if the IRA holder's spouse is still working, the spouse can also make a spousal contributions.