Fidelity, Charles Schwab, and Vanguard are popular choices with $0 account minimums.
If a teen earns $2,000 and wants to spend it on a car, parents can "match" that amount by contributing $2,000 of their own money into the teen's IRA (as long as the total doesn't exceed what the teen earned). solo teen ira
When the teen reaches the "age of majority" (usually 18 or 21, depending on the state), the account is converted to a standard Roth IRA in their name. 💡 Pro-Tips for Success Fidelity, Charles Schwab, and Vanguard are popular choices