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Roth IRA for a minor
I have read that a minor can have a Roth IRA as long as they have ANY type of job that pays them cash - for example babysitting, paper route, ect... It seems this is a "scouts honor" type of rule where the maximum that can go into the Roth IRA is what the minor has earned or claims to have earned. Follow up - because they are saying they have "earned income" does that then mean they need to be claiming that income from babysitting, ect....
‎April 1, 2025
9:29 AM