Hello, I'm a 54-year old U.S. Navy retiree living and working overseas. Based on the exclusion of foreign income, all my foreign earnings and Navy retirement pay gives me NO earned income and I therefore can't contribute to my stateside IRA.

I saw in a previous post about Self-Employment Plan (SEP) IRA, a SIMPLE plan, a profit sharing plan or even a 401K. The SEP doesn't apply to me, and I haven't investigated the SIMPLE plan or a 401K.

I have a pension plan with the people I work with, but have some extra money I would like to put into a tax-free savings vehicle for retirement. I've heard about self-directed trusts and am now just starting to look in to them to see if they might be a fit.

Any advice would be appreciated. Rick

Rick:

You have earned income, but, because of the foreign income exclusion, your income is NOT taxable. Hence, no IRA.

Sorry!