Solo Teen Ira · Full

Fidelity, Charles Schwab, and Vanguard are popular choices with $0 account minimums.

Since minors cannot legally open brokerage accounts, a parent or guardian must open a . solo teen ira

The adult manages the account, but the assets belong to the teen. Fidelity, Charles Schwab, and Vanguard are popular choices

They can contribute 100% of their earnings up to the annual limit ($7,000 for 2024/2025). 💰 Roth vs. Traditional: Why Roth Wins solo teen ira

Contributions are made with "after-tax" dollars. Since teens usually fall into the lowest tax bracket, they pay little to no tax now.