Nate Haines
Jul 8 1999, 04:59 AM
At what age can you begin contributing to a Roth IRA. Is this an intelligent investment decision for retirement or are there better alternatives?
BPickerCPA
Jul 8 1999, 10:05 AM
There is no minimum age to contribute to a Roth or traditional IRA. The only requirement is that there be earned income.
John G
Jul 8 1999, 12:13 PM
Not all IRA custodians are prepared to open ROTH accounts (or even regular IRA accounts) for children. You may need to make a few phone calls to find a supportive custodian. I have been told this reluctance on the part of some institutions is related to the need for an adult to be designated for a minor child's IRA account.
Bruce Steiner
Jul 8 1999, 11:47 PM
Dealing with IRA custodians is often frustrating at best. But you should be able to find one that will accept an IRA for a minor.
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Bruce Steiner, attorney
(212) 986-6000 (NY office)
(201) 862-1080 (NJ office)
also admitted in FL
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