The Motley Fool Discussion Boards

Previous Page

Investing/Strategies / Retirement Investing


Subject:  Re: IRA for teenager Date:  5/28/1998  12:48 PM
Author:  PSUEngineerFool Number:  3501 of 90115

<<There's no minimum age; the only requirement is having earned income at least equal to the amount being contributed.>>

To add to TchrP response, the actual earned income does not have to go into the IRA. If your son has an earned income of $1500, this means you could contribute $1500 to the IRA and let your son save his money for future college expenses.
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us