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Reply to "How can a first time earning kid open a retirement account?"
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[quote=Anonymous][quote=Anonymous]I think Charles Schwab will let you open a Roth for a minor. Make sure you keep tax records, and remember- even if your kid spends all he earns on video games and Slurpies, you can put your money into his IRA up to the amount actually earned.[/quote] Yes, thank you! DC is very young. Total earnings only a couple hundred from summer jobs. Vanguard or Fidelity (I forget which) said first I had to open a brokerage account and then I could do it. I have other non-brokerage accounts with them. I couldn't remember what they said it might be possible to open though. Thanks for all suggestions. So I need to decalre the couple of hundred on our family taxes, as DC is a dependent? TIA[/quote]
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