Age Restriction

[Guest Nate Haines]

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]

There is no minimum age to contribute to a Roth or traditional IRA. The only requirement is that there be earned income.

[John G]

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]

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