what age can you start contributing to an IRA
Children of any age can contribute to an IRA as long as they have earned income from a job, be it babysitting, yard work or walking neighborhood dogs. For 2013, the maximum your child can contribute to an IRA (either traditional or Roth) is the lesser of $5,500 or his or her taxable earnings for the year.or example, if your daughter earns $3,000 at a summer job, you can let her spend her money as she wishes and you make the $3,000 IRA contribution with your own money. You might also offer to contribute a percentage of what your child earns, such as 50% (your child earns $3,000 and you contribute $1,500).