Teen Ira - Solo

The principal (the money they put in) can be withdrawn at any time without penalty, providing a safety net for future emergencies. 📈 The "Time Machine" Effect

Starting at age 15 versus age 25 creates a massive difference in final wealth due to compounding. Starting Age Monthly Contribution Total at Age 65 (7% Return) $524,000 25 $262,000 solo teen ira

If the teen is self-employed (babysitting), keep a simple log of dates, jobs, and payments in case of an IRS audit. The principal (the money they put in) can

Contributions are made with "after-tax" dollars. Since teens usually fall into the lowest tax bracket, they pay little to no tax now. 000 25 $262

For almost every teenager, the is the superior choice.