Get all your news in one place.
100's of premium titles.
One app.
Start reading
Kiplinger
Kiplinger
Business
Kimberly Lankford

EXPLAINED: The custodial roth ira trick how to turn your teens summer paycheck into a 1m nest egg | Rare Historical Photos

(Image credit: Getty Images)

Question: My 15-year-old son is doing landscaping this summer for neighbors, and it looks like he’ll earn about $1,500. Is there a minimum age to contribute to a Roth IRA, and must he have a W-2?

If my son can open a Roth, would he be able to contribute up to the $7,500 annual limit?

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.