Comments on: College Money Tip #18: Open a Retirement Account

By: jared

jared — Wed, 23 Jun 2010 19:17:19 +0000

well if he isnt making money then how would he put any in anyway?

By: Marlene

Marlene — Wed, 02 Dec 2009 03:51:38 +0000

These are fantastic tips! Starting to work with a financial advisor at a younger age rather than waiting can also help secure your financial future. You can talk about long term and short term goals – but be sure to meet often to change these goals along with major changes in your life and lifestyle. And like anything else, shop around until you find an advisor you are comfortable with!

By: James Blackwell

James Blackwell — Tue, 01 Sep 2009 19:38:10 +0000

Being economical and saving wisely is something ive always valued

By: Kirk

Kirk — Thu, 27 Aug 2009 20:08:47 +0000

i second what ashley said, i also feel that emphasis on financial education should start earlier in schools.. i bet people will be in a much better place (financially) if they were taught how to handle their finances wisely at an earlier age, much better if education begins at home..

By: Ashley

Ashley — Mon, 24 Aug 2009 22:36:51 +0000

Looking at this only makes me a stronger advocate for schools to teach money management and finance classes at a much younger level. I’ve found ways to bring in income for myself starting at a very young age and if I’d know then what I know now, I’d already be set for life. I say financial education should start in middle school.

By: Stephanie

Stephanie — Mon, 24 Aug 2009 21:15:52 +0000

$3000 might be a lot, depending on your situation. It was really just an example I used, but it can be possible in some cases. I went to a college that heavily emphasized paid internships (“co-ops”), and for some majors even required them! A lot of people I know made way more than $3000 during their co-ops, and could have done well by sticking that money in a Roth IRA.

By: Annie G

Annie G — Mon, 24 Aug 2009 20:29:31 +0000

My son opened a Roth IRA at troweprice when he turned 18. He picked them because they allow monthly contributions of as little as $50, with no initial investment required if you set up automatic transfers.

$3000 a year seems like a lot, even for working college students (considering all of their other expenses)! I think he has managed about $1000 per year for the last 2 years.

By: Stephanie

Stephanie — Sun, 23 Aug 2009 21:50:09 +0000

@James: Yes – so if your grandson truly doesn’t have earned income, he won’t qualify. That’s something that’s explained in the ebook. 86% of college students work while in school, so I didn’t mention that fact as it applies to less than 15% of college students.

By: Tom from Fiberblend

Tom from Fiberblend — Sun, 23 Aug 2009 20:50:45 +0000

I’ve been looking at retirement options and this information is really useful – I wish I had put more money away when I was younger and didnt have to rush to do it now…but its better later than never

By: James Lewis

James Lewis — Sun, 23 Aug 2009 15:50:56 +0000

Great information, but don’t you have to have earned income to qualify to put money into an IRA? As a college student, my grandson does not have real earned income.
Thanks,
Jim Lewis