zagmoose: "My sister is going to have a kid soon, and I was looking at my ROTH IRA which I just started THIS year. I am 28. I've had a 401K for 3 years and have maxxed it out, but I can't help but wonder "What if I started earlier, or What if My parents started something for me?" My question to you is this: Is there a way I can Start an IRA account for the new kid? Is this different then a College account? I know they can't have their OWN account till they are 18, but Is it possible to start one for them that is a joint account that would still be an official IRA account? Because if we can put $5,000 away for the kid by the time he/she is 10 years old, they will have a GREAT advantage when they really start thinking about a retirement account."It is nice of you to be thinking about your soon to be niece/nephew, but their are at least two issues in your proposal.Your niece/nephew needs to have "earned" income in order to open an IRA. Unless they are baby models - ala Brooke Shields for Ivory Snow those many years ago, it is unlikely that they will have earned income.Second, there is no joint IRA; the I stands for Individual and an IRA can be opened only by one person.Congratulations on your impending unclehood (aunthood?)!Regards, JAFO
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