IRA/Roth IRAs & SIMPLE IRAs Request a Quote To be considered eligible, you must have “earned income” – no matter your age, you must be drawing an income . IRAs also have a maximum annual contribution per person. With a Roth IRA, your money is considered “after-tax dollars,” grows tax-free and offers more flexibility with withdrawals. A SIMPLE IRA is a established by employers for the benefit of their employees. Employees are allowed to contribute part of their pretax income to the SIMPLE IRA plan.Federal income tax laws are complex and subject to change. Neither Nationwide nor its representatives give legal or tax advice. Please consult your attorney or tax advisor for answers to specific questions.