How early can I open an IRA account?
I’m a young person, and I’ve been reading an older book on financial advice. Basically the book shows a quick chart on how if you were to invest 2,000$ a year from the age of 22 to 28, at the age of 62 you will have 533,225$. So I figure if I start now (I’m 18) then I could invest 2,000 a year into an IRA account until I I’m 28 and my gains would be much much higher. But the book never actually says what an IRA account is or how early you can start one. Or for that matter what would be the best thing for me (a young person) to start investing in for the future. Thanks in advance, I’m just trying to get started as early as I can as far as money goes!
If you have earned income (such as wages from a job) then that amount can be invested into an IRA.
A simple way to open an IRA is:
This American Life: The Beard Chart