When you choose to start investing, you've got several options. You can open an investment account to start saving for retirement (such as an IRA). Or you can open an investment account designated for college funds (such as a 529).  Lastly, you can open an investment account that isn't tied to retirement or college funds. The type of investment account you should open depends on various factors. Talk with your parents to help you decide which type of investment account is best for you.