A single employee who is not covered by an employer's retirement plan may always contribute at least $6,000 of earned income to his or her IRA.

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For the 2023 tax year, individuals under the age of 50 can contribute up to $6,500 to their IRA, and those 50 or older can contribute up to $7,500. The statement's figure is slightly outdated but the principle that an individual not covered by an employer's retirement plan can contribute to an IRA remains accurate.

A Single Employee Who Is Not Covered by an Employer's