Can I Open a Roth IRA for My Children?

Answer Because there is no age requirement for opening an account, a Roth IRA can be opened in a minor's name. The account is funded by gifted contributions until the minor earns taxable income.Source:The... Read More »

Top Q&A For: Can I Open a Roth IRA for My Children

Who can open a Roth IRA?

A Roth IRA can be opened by a person who receives U.S. taxable income. Roth IRA contributions are not subject to the age limit of 70 1/2 years imposed on traditional IRAs. The Internal Revenue Serv... Read More »

Is it possible to open a second roth ira?

It is possible to open a second Roth IRA or even more if you meet the income limits set by the Internal Revenue Service. The number of Roth IRA accounts a person owns is irrelevant. The IRS places ... Read More »

How old do you have to be to open up a Roth IRA?

There is no minimum age requirement to open a Roth IRA. The only issue in most cases is whether the child has taxable income. An unmarried individual must have earned income to be eligible to contr... Read More »

Can one open a Roth IRA without holding a job?

Typically, you must have earned income from employment to open a Roth Individual Retirement Account (IRA). However, a non-working individual who has a working spouse and files jointly with him for ... Read More »