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Updated about 14 years ago on . Most recent reply

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78
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Peter Haymond
  • Multi-family Investor
  • San Jose, CA
5
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78
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How old do you have to be to open a Self-directed Roth IRA?

Peter Haymond
  • Multi-family Investor
  • San Jose, CA
Posted

Or a Self-directed Roth 401k?

How do you set up these accounts?

My parents use "The Entrust Group" for their self direct Roth IRA account. Are there any other companies that are good with self-directed investment accounts?

Thanks for your time.

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Jeff S.#5 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Los Angeles, CA
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Jeff S.#5 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Los Angeles, CA
Replied

There is no minimum age. You just need a social security number and earned income. I have a good friend whose 8 month old is billing at $120/hour modeling for the Gap, H&M, and others. She now has a both a Roth and a 529 college savings plan. The parents are trying to get her on TV, where I understand she can make in the tens of thousands of dollars.

Can you imagine having astute parents investing your money for you tax free from essentially the time you were born?

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