is there an age limit to opening a roth ira
Like adults, minors are subject to the maximum annual contribution limits for Roth IRAs. As of 2012, the maximum contribution limit is $5,000 per tax year for investors under the age of 50. A minor may not contribute more than $5,000 to a Roth IRA.Contributing to a Roth IRA may have significant advantages for minors.1] There are no official minimum or maximum age limits on making contributions to a Roth IRA. This feature gives younger and older investors the opportunity to invest the money they've earned and accrue earnings at a tax free rate.