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Subject:  Re: IRA for teenager Date:  5/28/1998  12:25 PM
Author:  TchrP Number:  3499 of 88063

>> My son is applying for his first job this summer. Is there a lower limit on the age for starting an IRA? What other issues might be involved for him?
There's no minimum age; the only requirement is having earned income at least equal to the amount being contributed.

Others have reported that it is difficult, however, to set up an IRA for a minor. This is because accounts for minors require a custodian, usually a parent, while IRAs also require a custodian, usually a bank. But I think that people have done it successfully -- it may take some shopping for a broker prepared to handle it, and perhaps someone who has done it will be able to provide details.
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