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Author: IyamwhatIyam Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 35  
Subject: Simple Ira's for the 14 year olds Date: 6/20/2006 10:48 AM
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Hi, I want to open IRA's for my two teenage children. A place for them to put their earned income as a head-start on retirement savings. Fidelity Investments turned me down as they are bound by some law that prohibits them from opening an IRA for a minor.
Does anyone have any suggestions who can open IRA's for me? (for them?)

Thanks

I yam what I yam
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Author: jrr7 Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 20 of 35
Subject: Re: Simple Ira's for the 14 year olds Date: 6/25/2006 10:55 PM
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It's not possible to open an IRA directly for a minor, since there is an IRA account agreement that must be signed.

You have to open a custodial IRA where you sign it and agree to make sure the rules and regulations are followed.

I suggest asking on the "Retirement Investing" board.
http://boards.fool.com/Messages.asp?bid=100154

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