Hello, so I'm 17 years old and I've held a couple of jobs over the past year. The first was a summer internship that I worked 40 hours a work in, the second (current) job is a job as a math tutor that I work part time for (still finishing school).
I've got about $2K in a checking account and I have another internship lined up for this summer that pays close to $13 an hour and is another 40 hour per week position.
Anyway, now the question part. I've been interested in starting a Roth IRA with some of what I have saved and I want to know if this is a good idea. Is there a better place to put my money? I have college paid for with a full-tuition scholarship and my parents have saved close to $60000 in a 529 for college that I plan to use for grad school. I just need some guidance on where I should put my money, and if a Roth IRA would be the best idea. If it is, how should I go about doing this? My father suggested starting a Roth IRA through Vanguard, but from what I gather, they won't let me start one (at least online) unless I'm 18. I'm also interested in investing my money whether or not I put it in a Roth IRA. I was thinking something along the lines of index funds. Something low-risk with middling returns. Is this a good idea, or should I consider the stock market or something else instead?
Thank you guys for your time! If you need any more information or something, let me know. Thanks.
Submitted April 13, 2017 at 11:32PM by Kilgarah http://ift.tt/2pfaQnA
