Q: How young can you start a roth ira?

[Guest Mar-Cel-Nis]

I have money I would like to put into a Roth IRA, the problem is I may be to young and it needs to be under my name. So my question is at what age can one start a Roth IRA under one's own personal name?

[John G]

Good news. There is no minimum age limit. You must have earned income - like wages, payments for modeling, mowing lawns, newspaper route, etc.

Some parents in Colorado had a two year old that appeared in some TV commercials and was paid.... 100% of those earnings went into a Roth.

Note, you may have problems finding a custodian if you are under 18. Etrade says no, but Schwab says YES (they make it a custodial Roth). The under 18 is not a deal breaker - you just need to spend a little more time finding a custodian.

One final note, ALL Roths or IRAs must be under your name - the "I" stands for individual. There is not such thing as a "joint" IRA account.