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- Danielle
I had the same question.
But is there a minimum income needed?? My daughter is 17 in HS brings home about 250-350/week after taxes (depending on hrs worked) I wanted to open a Roth IRA for her. Is this sufficient to do so?
Are there limits on how much I can put in for her. Or is it the 7k a year?
MatthewShe has to have taxable earned income. Does she work part time while at school? I would like to assume she would have a job by summers/years end whether it be her career or a temp thing.
DaynaYou could contribute to a 529 in her name that she can eventually transfer into a Roth IRA. That doesn’t have an income restriction.
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