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Is it good for a 16 year old to invest in an IRA and start investing in mutual funds?


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Want to have good by 30’s or so

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3 Responses to “Is it good for a 16 year old to invest in an IRA and start investing in mutual funds?”

  1. Ted Says:

    It’s really cool that you are interested in savings. I also started before I was 20, and I kept it up and am living quite comfortably now.

    The bad new is, you have to be of legal age to sign a contract like a brokerage agreement. That’s usually 18. Also, IRA money must come from job earnings, not gifts from family members or inheritance.

  2. Shy_Boy22 Says:

    your very smart to be trying to save money at your age..your a lot like my dad he came from not a lot but whenever he had money he would save it! you should defintley start investing in mutual funds it is a great way to increase your funds!

  3. ZORCH Says:

    No, it is not "good". It is absolutely brilliant.

    Hate to tell you this, but you are getting old. Right now. Great snakes, only a year ago you were 15. A mere kid. But, in the future you will be 20 or even as old as 30. Kidding here, but if you start now, you will be a very financially comfortable person when you are as old as 30. Gets better after that. Follow you idea. Wish more did.

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