RothIRA eligibility

[Guest yelena]

Individuals must have earned income and adjusted gross income less than $110,000 for single, $160,000 for married couple.

Let's say I open a RothIra now my income now 60K. What is in couple years my income will be more than 110K, then I am not eligible anymore for RothIRA and I should close it?

Or I can keep using it even if my income grew more than 110K limit?

Thank you

[WDIK]

The income limits apply on a year to year basis with resepct to contributions for that year. Prior year contributions that have been made can remain in the Roth and continue to grow.

[Guest yelena]

thank you