Apr 16

Question by what?: I am a college student, can I open roth IRA and start contributing?
I am a dependent in my twenties, studing in a community college. I am employed as a tutor in my CC. Can I start saving for my retirement? does ROTH IRA work for me? or is there a better option?

P.S. I can contribute $ 400 each month. Is that too little to qualify for a roth IRA?

P.S. also, will participate in a roth IRA affect my status to receive financial aid from government?

Best answer:

Answer by shiprepairwoman
You can contribute up to your earned income capped at 5K,

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