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|Subject: 16 Years Old - Roth or Regular?||Date: 8/27/2000 9:39 PM|
|Author: jlubell||Number: 24392 of 77872|
Hello, I am 16 years old, and believe it or not, I want to open a retirement account. I do not plan to EVER withdraw funds from the account. I will only put in what I am sure I will not need. No education, house, or medical distributions will be taken.
I also believe, that my AGI will surpass $95,000 eventually.
So my question is:
Do I put my money in a Roth IRA because I am in the lowest tax bracket, and when I surpass $95,000 open a regular IRA and begin to contribute money to that?
Or do I open a regular IRA account now, and just keep depositing into that account?
All help is much appreciated...
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