Q:I really want to begin investing as well! My parents got into some trouble after getting a divorce and all of their finances went down. I can't start a 401K or a Roth IRA because I'm still in college and have not found a career. I'm working three jobs to get a car and possibly begin traveling next summer. What would you recommend for someone like me?

centrallimittheorem

You don’t have to have a “career” to set up a Roth IRA!  If you’re bringing in any sort of income, you can contribute.  And, because of the five year rule, you’ll want to get an account set up right away.  Even if you can only afford to put $10 a month into it, it’s worth it to get started as soon as possible.

Remember, just because you can’t save a lot doesn’t mean you can’t save at all.

With that said, you’ll only be young once, so be sure to find some balance between saving for years down the road and enjoying yourself today.

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  1. moneyisnotimportant posted this